CHAPTER 130
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1
CHAPTER 130
( HB 488 )
AN ACT relating to legal instruments.
Be it enacted by the General Assembly of the Commonwealth of Kentucky:
Section 1. KRS 382.297 is amended to read as follows:
(1) A county clerk shall admit to record any amendment, renewal, modification, or extension of a recorded
mortgage that complies with subsection (2) of this section.
(2) Any amendment, renewal, modification, or extension of a recorded mortgage admitted to record under
subsection (1) of this section shall:
(a) Be in writing;
(b) Contain:
1. The name and mailing address of each mortgagor;
2. The name and mailing address of the mortgagee;
3. The book and page number where the original mortgage is recorded;
4. A description of the amendment, renewal, modification, or extension, which:
a. Shall be in conformity with KRS 382.330; and
b. For an extension, shall include the:
i. Time period of the extension; and
ii. Amount of indebtedness remaining due;
5. A printed, typewritten, or stamped endorsement on the instrument to be recorded stating the
name and address of the individual who prepared the instrument, which shall be signed by the
individual;
6. The address to which the recorded instrument is to be delivered as provided in KRS 382.240;
and
7. The signature of each mortgagor and the mortgagee, acknowledged before a notary public;
and
(c) Be recorded in the office of the county clerk in which the original mortgage is located.
(3) (a) In addition to any amendment allowed under subsection (1) of this section, a county clerk shall admit
to record[recorded mortgage may be amended by] an affidavit of amendment to a recorded mortgage
that:
1. Is prepared and executed by an attorney licensed in Kentucky; and
2. Complies with this subsection[to correct clerical errors or omitted information].
(b) An affidavit of amendment may not change:
1. Any term, dollar amount, or interest rate in the mortgage;[, unless signed by the mortgagor and
secured party. An affidavit of amendment may not change ]
2. The parties; or
3. The collateral of a recorded mortgage;[,]
but may be used to correct a manifest clerical or typographical error such as spelling, punctuation, or
numbering mistakes in typing or printing. ACTS OF THE GENERAL ASSEMBLY 2
(c) The attorney preparing the affidavit shall certify in the affidavit that notice of filing the amendment has
been given to each[the] mortgagor by mailing a copy of the amendment to the mortgagor or
mortgagors at the address shown on the original mortgage.
(4) Every amendment, renewal, modification, or extension of a recorded mortgage admitted to record under
this section shall be recorded by the county clerk in the same manner as recordation of an original
mortgage.
(5) The receipt for record and recording of any instrument by a county clerk that is not in compliance with the
provisions of this section shall not prevent the record of filing of the instrument from becoming notice as
otherwise provided by law, and shall not impair the admissibility of the record as evidence.
(6) A subsequent release of the original mortgage releases any amendments, renewals, modifications, or
extensions admitted to record under this section[to the original mortgage].
(7) Nothing in this section shall be construed to:
(a) Affect or change the priority established under law of any recorded mortgage, including but not
limited to the priority established under KRS 382.340, 382.385, and 382.520;
(b) Create or establish:
1. A lien or other security interest; or
2. Priority in a lien or other security interest; or
(c) Require the recording of any amendment, renewal, modification, or extension of a recorded
mortgage in order:
1. To secure payment of any sums due and payable under the mortgage;
2. To secure priority of the mortgage, as amended, renewed, modified, or extended; or
3. For the amendment, renewal, modification, or extension to be enforceable between the parties.
Section 2. KRS 413.100 is amended to read as follows:
(1) No promise, acknowledgment, or payment of money by any person bound on any bond or obligation for the
payment of money secured by a lien shall operate as an[a prolongation or] extension of the time within which
the lien may be enforced as against purchasers or creditors, unless[ the promisor and the holder of the lien],
before expiration of the limitations period for enforcement of the debt under KRS 413.090(2) or 413.160, as
applicable:[fifteen (15) years after the maturity of the debt]
(a) For liens secured by a recorded mortgage, a copy of the extension is recorded in accordance with
Section 1 of this Act; or
(b) For liens secured by a recorded deed, a memorandum notice of the extension is recorded that
contains:
1. The book and page number where the deed is recorded;
2. A statement that the debt is extended;
3. The time period of the extension;
4. The amount of indebtedness remaining due; and
5. The signature of each promisor and the holder of the lien, acknowledged before a notary
public[, enters a memorandum on the margin of the record of the deed or mortgage, attested by
the clerk, showing that the debt is extended, for what time it is extended and the amount still due
thereon].
(2) The payee shall pay the clerk a fee pursuant to KRS 64.012 for the recording[his services].
Signed by Governor April 9, 2024.