KRS 140.050: Taxation of surviving owner of a joint interest.

Whenever any real or personal property is held jointly in the names of two (2) or more

persons, or as tenants by the entirety, or is deposited in banks or other depositories jointly

in the names of two (2) or more persons and is payable to either or to the survivor upon

the death of the other, the right of the surviving tenant by the entirety or the surviving

joint tenant or joint depositor to the immediate ownership or possession and enjoyment of

the property shall be deemed a transfer of one -half (1/2) or other proper fraction thereof,

taxable under the provisions of this chapter in the same manner as though the part of the

property to which the transfer relates belonged to the tenants by the entirety, joint tenants

or joint depositors as tenants in common , and had been bequeathed or devised to the

surviving tenant by the entirety, joint tenant or joint depositor by the deceased tenant by

the entirety, joint tenant or joint depositor.