91.511 Discharge of lien or satisfaction of judgment -- Redemption.
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91.511 Discharge of lien or satisfaction of judgment -- Redemption.
(1) At any time prior to the sale of the property any person having any right, title or
interest in, or lien upon, any parcel of real estate described in the petition may <br>discharge any city lien or satisfy a judgment in favor of the city as to said parcel of <br>real estate by paying to the collector all of the sums mentioned therein, including <br>the principal, interest, penalties, and costs then due.
(2) If the property is sold pursuant to the judgment or order of the court and does not
bring its most recent assessed value certified by the Department of Revenue to the <br>county clerk as required by KRS 133.180, the owner may redeem it within sixty <br>(60) days from the day of the sale, by paying the purchaser the original purchase <br>money and interest at eighteen percent (18%) per annum. Any owner who redeems <br>his land shall take a receipt from the purchaser and lodge it with the clerk of the <br>court. The receipt shall be entered upon the records of the court.
(3) The owner may tender the redemption money to the purchaser, his agent or attorney,
if found in the county where the land lies or in the county in which the judgment <br>was obtained or order of sale made. If the money is refused, or if the purchaser does <br>not reside in either of the counties, the owner may, before the expiration of the right <br>of redemption, go to the clerk of the court in which the judgment was rendered or <br>the order made, and make affidavit of the tender and refusal, or that the purchaser or <br>his agent or attorney do not reside in either of the counties. He may then pay to the <br>clerk the redemption money, and the clerk shall give receipt therefor and file the <br>affidavit among the papers of the action.
(4) When the right of redemption exists, the owner may remain in possession of the
property until it expires. Real property so sold shall not be conveyed to the <br>purchaser until the right of redemption has expired. If it is redeemed, the sale shall, <br>from and after the redemption or from and after the deposit of the redemption <br>money with the clerk, be null and void.
(5) In the event of failure to redeem within the period provided for redemption, the
owner or any other party in interest shall be barred forever of all his right, title and <br>interest in and to the parcel of real estate described in the petition.
(6) Upon redemption, as permitted by this section, the person redeeming shall be
entitled to a certificate of redemption from the collector describing the property in <br>the same manner as it is described in the petition and the collector shall thereupon <br>note on his records the word "redeemed" and the date of the payment opposite the <br>description of the parcel of real estate.
Effective: June 20, 2005 <br>History: Amended 2005 Ky. Acts ch. 85, sec. 102, effective June 20, 2005. -- Amended
1982 Ky. Acts ch. 409, sec. 9, effective July 15, 1982. -- Created 1980 Ky. Acts <br>ch. 47, sec. 10, effective July 15, 1980.
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