UNOFFICIAL COPY 23 RS BR 1566 Page 1 of 3 XXXX 2/21/2023 3:46 PM Jacketed AN ACT relating to real property purchased at a master commissioner's sale. 1 Be it enacted by the General Assembly of the Commonwealth of Kentucky: 2 ď˘Section 1. KRS 91.514 is amended to read as follows: 3 (1) (a) Upon the confirmation of the sale by the court and the expiration of the right 4 of redemption provided in KRS 91.511, the title to any real estate purchased 5 from the master commissioner pursuant to KRS 91.481 to 91.527 shall vest in 6 the purchaser. 7 (b) The title of the real estate shall be an absolute estate in fee simple, subject to 8 rights-of-way of public utilities on which tax has been otherwise paid and 9 subject to any right of redemption of the United States of America[, if any]. 10 (c) All persons, including the Commonwealth of Kentucky, infants, 11 incompetents, absentees, and nonresidents who may have had any right, title, 12 interest, claim or equity of redemption in or to, or lien upon the land shall be 13 barred of all right, title, interest, claim, lien or equity of redemption, and the 14 court shall order that immediate possession of the real estate be given to the 15 purchaser. Any person so barred shall thereafter have as his or her exclusive 16 remedy a claim for a share of the proceeds of the sale of the real estate by the 17 master commissioner. 18 (2) The title shall be subject to the liens of any tax bill which may have attached to the 19 parcel of real estate prior to the time of the filing of the petition affecting the parcel 20 of real estate not then delinquent, or which may have attached after the filing of the 21 petition and prior to the expiration of the period provided for redemption and not 22 including any answer to such petition. 23 (3) If the parcel of real estate is sold to the city or to a land bank authority created 24 pursuant to KRS 65.350 to 65.375, the title shall be free of any liens to the extent of 25 the interest of any taxing authority in any such real estate. 26 (4) The title shall not be subject to the lien of special tax bills which have attached to 27 UNOFFICIAL COPY 23 RS BR 1566 Page 2 of 3 XXXX 2/21/2023 3:46 PM Jacketed the parcel of real estate but the lien of the special tax bill shall attach to the 1 proceeds of the master commissioner's sale or to the proceeds of the ultimate sale of 2 the parcel by the city. 3 (5) Failure of any party other than the purchaser to follow the procedures set out in 4 KRS 91.484 to 91.527 shall not affect the vesting of title in the purchaser. 5 (6) (a) Any purchaser under this section who obtains title to real property that has 6 been legally occupied at any time in the three (3) years preceding the vesting 7 of title to the purchaser under subsection (1) of this section shall return the 8 property to a state of occupancy no later than eighteen (18) months 9 following the vesting of title. 10 (b) As used in this subsection, "state of occupancy" includes but is not limited 11 to: 12 1. Actual occupancy of the property by the purchaser or by a lessee 13 pursuant to a rental agreement for no less than twelve (12) months; 14 and 15 2. Securing a certificate of occupancy meeting the requirements of the 16 Uniform State Building Code issued by the building official, inspector, 17 or other code enforcement personnel of the city, county, charter 18 county, consolidated local government, unified local government, or 19 urban-county government where the property is located; and 20 a. Publicly listing the property for rent or sale for a reasonable 21 value or price in keeping with other rental property or property 22 for sale in the area; and 23 b. Keeping the property on the market for rent or sale until rented 24 or sold for immediate occupancy. 25 (c) Failure to comply with the provisions of this subsection shall result in a fine 26 in the amount of one hundred dollars ($100) per day for each day of 27 UNOFFICIAL COPY 23 RS BR 1566 Page 3 of 3 XXXX 2/21/2023 3:46 PM Jacketed violation payable to the chief financial officer of the city, county, charter 1 county, consolidated local government, unified local government, or urban-2 county government responsible for issuing any certificate of occupancy for 3 the property and may result in an order of sale of the property under KRS 4 426.205. 5