KRS 393.030: Disposition of property subject to escheat.

(1) The personal representative of a person, any part of whose property is not

distributed by will, and who died without heirs or distributees entitled to it shall

settle their accounts within one (1) year after qualifying, and pay to the department

the proceeds of all personal property, first deducting the proper legal liabilities of

the estate.

(2) If the whole personal property cannot be settled and the accounts closed within one

year, the settlement as far as practicable, shall then be made and the proceeds paid

to the department, and the residue shall be settled and paid as soon thereafter as can

be properly done.

(3) The personal representative shall take possession of the real property of the

decedent not disposed of by his will, and rent it out from year to year until it is

otherwise legally disposed of, and pay the net proceeds to the department.

(4) The personal representative shall also make out and transmit to the department a

description of the quantity, quality, and estimated value of the real prope rty and its

probable annual profits.