Kentucky Statutes 393.040 – Procedure if legacy or devise is not claimed
Current as of: 2024 | Check for updates
|
Other versions
If any devisee or legatee, or his heir, devisee, or distributee, has failed for seven (7) years to claim his legacy or devise, the personal representative of the testator, or other person possessing it shall, after deducting the legal liabilities thereon, pay and deliver it and the net profits from it to the department.
Effective: July 15, 1994
History: Amended 1994 Ky. Acts ch. 58, sec. 5, effective March 10, 1994; and ch. 83, sec. 2, effective July 15, 1994. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 1608.
Legislative Research Commission Note (7/15/94). This section was amended by 1994
Ky. Acts chs. 58 and 83 which do not appear to be in conflict and have been codified together.
Effective: July 15, 1994
Terms Used In Kentucky Statutes 393.040
- Devise: To gift property by will.
- Legacy: A gift of property made by will.
- Legatee: A beneficiary of a decedent
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Testator: A male person who leaves a will at death.
History: Amended 1994 Ky. Acts ch. 58, sec. 5, effective March 10, 1994; and ch. 83, sec. 2, effective July 15, 1994. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 1608.
Legislative Research Commission Note (7/15/94). This section was amended by 1994
Ky. Acts chs. 58 and 83 which do not appear to be in conflict and have been codified together.