Kentucky Statutes 324.030 – Exceptions to KRS 324.020
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KRS 324.020(1) and (2) shall not apply to:
(1) Any person who as owner or lessor performs any of the acts defined in KRS
324.010 with reference to property owned or leased by him or to his regular employees, with respect to the property so owned or leased, if the acts are performed in the regular course of, or as an incident to, the management of the property and the investment in it;
(2) Any person acting as attorney in fact under a duly executed power of attorney from the owner authorizing the final consummation by performance of any contract for the sale, leasing, or exchange of real estate;
(3) Any attorney-at-law who is performing his duties as attorney-at-law;
(4) Any receiver, trustee in bankruptcy, administrator, or executor, person selling real estate under order of any court, or a trustee acting under a trust agreement, deed of trust, or will or the regular salaried employees thereof;
(5) A person engaged in property management, if the person:
(a) Is a regular employee of the owner or principal broker of the company engaged in property management; or
(b) Receives as his primary compensation the use of a rental unit; or
(6) A nonlicensed person under the supervision of a licensed real estate broker who contacts the public for the purpose of setting an appointment for the broker to meet with them regarding buying or selling property and giving out general public information specifically authorized by the broker.
Effective: July 14, 2000
History: Amended 2000 Ky. Acts ch. 488, sec. 5, effective July 14, 2000. — Amended
1992 Ky. Acts ch. 448, sec. 4, effective July 14, 1992. — Amended 1988 Ky. Acts ch.
304, sec. 1, effective July 15, 1988. — Amended 1986 Ky. Acts ch. 345, sec. 2, effective July 15, 1986. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 3990e-2.
(1) Any person who as owner or lessor performs any of the acts defined in KRS
Terms Used In Kentucky Statutes 324.030
- Attorney: means attorney-at-law. See Kentucky Statutes 446.010
- Attorney-at-law: A person who is legally qualified and licensed to practice law, and to represent and act for clients in legal proceedings.
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Broker: means any person who is licensed under KRS §. See Kentucky Statutes 324.010
- Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- Contract: A legal written agreement that becomes binding when signed.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Executor: A male person named in a will to carry out the decedent
- Owner: when applied to any animal, means any person having a property interest in such animal. See Kentucky Statutes 446.010
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Property management: means the overall management of real property for others for a fee, compensation, or other valuable consideration, and may include the
marketing of property, the leasing of property, collecting rental payments on the property, payment of notes, mortgages, and other debts on the property, coordinating maintenance for the property, remitting funds and accounting statements to the owner, and other activities that the commission may determine by administrative regulation. See Kentucky Statutes 324.010 - Real estate: means real estate in its ordinary meaning and includes timeshares, options, leaseholds, and other interests less than leaseholds. See Kentucky Statutes 324.010
- Trustee: A person or institution holding and administering property in trust.
324.010 with reference to property owned or leased by him or to his regular employees, with respect to the property so owned or leased, if the acts are performed in the regular course of, or as an incident to, the management of the property and the investment in it;
(2) Any person acting as attorney in fact under a duly executed power of attorney from the owner authorizing the final consummation by performance of any contract for the sale, leasing, or exchange of real estate;
(3) Any attorney-at-law who is performing his duties as attorney-at-law;
(4) Any receiver, trustee in bankruptcy, administrator, or executor, person selling real estate under order of any court, or a trustee acting under a trust agreement, deed of trust, or will or the regular salaried employees thereof;
(5) A person engaged in property management, if the person:
(a) Is a regular employee of the owner or principal broker of the company engaged in property management; or
(b) Receives as his primary compensation the use of a rental unit; or
(6) A nonlicensed person under the supervision of a licensed real estate broker who contacts the public for the purpose of setting an appointment for the broker to meet with them regarding buying or selling property and giving out general public information specifically authorized by the broker.
Effective: July 14, 2000
History: Amended 2000 Ky. Acts ch. 488, sec. 5, effective July 14, 2000. — Amended
1992 Ky. Acts ch. 448, sec. 4, effective July 14, 1992. — Amended 1988 Ky. Acts ch.
304, sec. 1, effective July 15, 1988. — Amended 1986 Ky. Acts ch. 345, sec. 2, effective July 15, 1986. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 3990e-2.