The lien shall not take precedence over a mortgage or bona fide sale and delivery for value without notice, unless the person claiming the prior lien shall, before the recording of the mortgage, or before sale and delivery, file in the office of the county clerk a statement showing that he has furnished or expects to furnish labor, or materials, or parts, or supplies, and the amount in full thereof. The lien shall not, as against the holder of a mortgage, or a purchaser for value, exceed the amount of the lien claimed, as set forth in the statement. The statement shall in all other respects be in the form provided in KRS
376.445.

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Terms Used In Kentucky Statutes 376.450

  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.

Effective: June 17, 1978
History: Amended 1978 Ky. Acts ch. 384, sec. 507, effective June 17, 1978. — Created
1954 Ky. Acts ch. 102, sec. 3, effective June 17, 1954.