91.511 Discharge of lien or satisfaction of judgment -- Redemption. - Kentucky Statutes

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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
discharge any city lien or satisfy a judgment in favor of the city as to said parcel of
real estate by paying to the collector all of the sums mentioned therein, including
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
county clerk as required by KRS 133.180, the owner may redeem it within sixty
(60) days from the day of the sale, by paying the purchaser the original purchase
money and interest at eighteen percent (18%) per annum. Any owner who redeems
his land shall take a receipt from the purchaser and lodge it with the clerk of the
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
was obtained or order of sale made. If the money is refused, or if the purchaser does
not reside in either of the counties, the owner may, before the expiration of the right
of redemption, go to the clerk of the court in which the judgment was rendered or
the order made, and make affidavit of the tender and refusal, or that the purchaser or
his agent or attorney do not reside in either of the counties. He may then pay to the
clerk the redemption money, and the clerk shall give receipt therefor and file the
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
purchaser until the right of redemption has expired. If it is redeemed, the sale shall,
from and after the redemption or from and after the deposit of the redemption
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
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
the same manner as it is described in the petition and the collector shall thereupon
note on his records the word "redeemed" and the date of the payment opposite the
description of the parcel of real estate. Effective: June 20, 2005
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
ch. 47, sec. 10, effective July 15, 1980.