Kentucky Statutes 91.550 – Collection of taxes on property of infant or person of unsound mind — Protection of future estates
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(1) The personal property of infants or persons judicially found to be of unsound mind shall not be distrained for taxes assessed on their real property.
(2) The real property of an infant or person judicially found to be of unsound mind shall not, during his disability, after ascertainment of such disability by the city, be sold without the appointment of a guardian ad litem to represent the interest of such person, for less than its certified assessed value on any judgment of sale rendered for taxes and costs alone, where the real property came to the infant or person of unsound mind by descent, distribution or devise, or by gift or settlement of some person then deceased, or where the real property belonged to the person of unsound mind before he became of unsound mind.
(3) No entire estate shall be sold, for taxes and costs chargeable to the owner of the particular estate, for less than its certified assessed value, so as to defeat any reversion, remainder or other future estate outstanding, unless the reversioners, remaindermen or holders of other future estates are ascertained and are of full age, and no such entire estate shall ever be put up to sale unless the particular estate of the taxpayer has first been put up and has failed to bring the amount of the taxes and costs.
Effective: July 15, 1982
History: Amended 1982 Ky. Acts ch. 409, sec. 12, effective July 15, 1982. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 3007.
(2) The real property of an infant or person judicially found to be of unsound mind shall not, during his disability, after ascertainment of such disability by the city, be sold without the appointment of a guardian ad litem to represent the interest of such person, for less than its certified assessed value on any judgment of sale rendered for taxes and costs alone, where the real property came to the infant or person of unsound mind by descent, distribution or devise, or by gift or settlement of some person then deceased, or where the real property belonged to the person of unsound mind before he became of unsound mind.
Terms Used In Kentucky Statutes 91.550
- City: includes town. See Kentucky Statutes 446.010
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Owner: when applied to any animal, means any person having a property interest in such animal. See Kentucky Statutes 446.010
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
(3) No entire estate shall be sold, for taxes and costs chargeable to the owner of the particular estate, for less than its certified assessed value, so as to defeat any reversion, remainder or other future estate outstanding, unless the reversioners, remaindermen or holders of other future estates are ascertained and are of full age, and no such entire estate shall ever be put up to sale unless the particular estate of the taxpayer has first been put up and has failed to bring the amount of the taxes and costs.
Effective: July 15, 1982
History: Amended 1982 Ky. Acts ch. 409, sec. 12, effective July 15, 1982. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 3007.