Kentucky Statutes 426.500 – Surplus proceeds of sale — Disposition
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(1) If the property sold on credit sells for more than necessary to satisfy the execution, costs and commission, the officer making the sale shall take a bond payable to the defendant, the owner of the property, but otherwise similar to and having like force and effect as that provided for in KRS § 426.490, for the excess.
(2) If the property is sold for cash, any excess after satisfying the execution, charges and commissions shall be paid over by the officer to the defendant whose property is sold.
Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. sec. 1675.
(2) If the property is sold for cash, any excess after satisfying the execution, charges and commissions shall be paid over by the officer to the defendant whose property is sold.
Terms Used In Kentucky Statutes 426.500
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Owner: when applied to any animal, means any person having a property interest in such animal. See Kentucky Statutes 446.010
Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. sec. 1675.