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140.350 Issuance of tax waivers -- Liens -- Procedure.

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140.350 Issuance of tax waivers -- Liens -- Procedure. At such time as the Department of Revenue accepts the agricultural or horticultural value on qualified real estate comprising a portion of a decedent's estate and issues tax <br>waivers thereon, it shall cause to be filed in the office of the county clerk of the county <br>where the real estate or the greater portion thereof is located, on a form prescribed by the <br>Department of Revenue, a lien which on its face shall expire in five (5) years and the lien <br>shall secure the payment of any additional tax which may become due as the result of the <br>qualified real estate being sold to others than qualified persons or the qualified real estate <br>being converted to other than a qualified use. <br> If additional taxes are due as the result of the real estate being transferred to other than a qualified person or its use is converted to other than agricultural or horticultural <br>use, and the additional tax is not paid after assessment of the tax, within the time <br>prescribed by the regulations of the Department of Revenue, then the Department of <br>Revenue may proceed to enforce the lien in accordance with law. Effective: June 20, 2005 <br>History: Amended 2005 Ky. Acts ch. 85, sec. 470, effective June 20, 2005. -- Created 1978 Ky. Acts ch. 138, sec. 10, effective July 1, 1978.