{"data":{"id":"us-ky/krs-355.9-604","jurisdiction":"us-ky","citation":"KRS 355.9-604","heading":"Procedure if security agreement covers real property or fixtures.","body":"(1) If a security agreement covers both personal and real property, a secured party may\nproceed:\n(a) Under this part of this article as to the personal property without prejudicing\nany rights with respect to the real property; or\n(b) As to both the personal pr operty and the real property in accordance with the\nrights with respect to the real property, in which case the other provisions of\nthis part of this article do not apply.\n(2) Subject to subsection (3) of this section, if a security agreement covers goods that\nare or become fixtures, a secured party may proceed:\n(a) Under this part of this article; or\n(b) In accordance with the rights with respect to real property, in which case the\nother provisions of this part of this article do not apply.\n(3) Subject to the other provisions of this part of this article, if a secured party holding a\nsecurity interest in fixtures has priority over all owners and encumbrances of the\nreal property, the secured party, after default, may remove the collateral from the\nreal property.\n(4) A secured party that removes collateral shall promptly reimburse any encumbrancer\nor owner of the real property, other than the debtor, for the cost of repair of any\nphysical injury caused by the removal. The secured party need not reimburse the\nencumbrancer or owner for any diminution in value of the real property caused by\nthe absence of the goods removed or by any necessity of replacing them. A person\nentitled to reimbursement may refuse permission to remove until the secured party\ngives adequate assurance for the performance of the obligation to reimburse.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33836","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:48Z","sha256":"918bcde7781fb50084bd248b1bc96285c7981b45e0952e424bf08291e4891e61","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.9-603","next":"us-ky/krs-355.9-605"},"notice":"GroundRules: Original legal text. Not legal advice."}