Kentucky Statutes 304.20-200 – Proceeds of policy subject to tax lien on insured real estate
Current as of: 2024 | Check for updates
|
Other versions
The interest of each person in the proceeds of any policy, except those on single-family dwellings, issued by an insurer, as defined in KRS § 304.1-040, providing fire insurance coverage for loss or damages caused by fire on an item of real estate, provided the amount of the proceeds for the loss payable under such policy is ten thousand dollars ($10,000) or more, shall be subject to any tax lien on such item of real estate continued in force pursuant to KRS § 131.515 and KRS § 134.420, and any such lien shall continue in force and apply equally to any fire insurance proceeds arising from a fire loss on such real estate. Any such lien may be discharged in the same manner as a lien filed pursuant to KRS
131.515 and 134.420.
Effective: January 1, 2010
History: Amended 2009 Ky. Acts ch. 10, sec. 67, effective January 1, 2010. — Created
1980 Ky. Acts ch. 278, sec. 1, effective July 15, 1980.
131.515 and 134.420.
Terms Used In Kentucky Statutes 304.20-200
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Lien: A claim against real or personal property in satisfaction of a debt.
- real estate: includes lands, tenements, and hereditaments and all rights thereto and interest therein, other than a chattel interest. See Kentucky Statutes 446.010
Effective: January 1, 2010
History: Amended 2009 Ky. Acts ch. 10, sec. 67, effective January 1, 2010. — Created
1980 Ky. Acts ch. 278, sec. 1, effective July 15, 1980.