Kentucky Statutes 413.080 – Action upon equity of redemption in personal property
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After a mortgagee of personal property or any person claiming under him has had five (5) years’ continued adverse possession, no action shall be brought by the mortgagor or any person claiming under him to redeem the property.
Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. sec. 2540.
Effective: October 1, 1942
Terms Used In Kentucky Statutes 413.080
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
- Personal property: All property that is not real property.
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. sec. 2540.