{"data":{"id":"us-ky/krs-381.9135","jurisdiction":"us-ky","citation":"KRS 381.9135","heading":"Leasehold condominiums.","body":"(1) A memorandum of lease shall be recorded with respect to any lease the expiration\nor termination of which may terminate the condominium or reduce its size. Every\nlessor of those leases shall sign the memorandum of lease, and the memorandum of\nlease shall state:\n(a) The elements of recording for the lease;\n(b) The date on which the lease is scheduled to expire;\n(c) A legally sufficient description of the real estate subject to the lease;\n(d) Any right of the unit owners to redeem the reversion and the manner whereby\nthose rights may be exercised, or a statement that they do not have those\nrights;\n(e) Any right of the unit owners to remove any improvements within a reasonable\ntime after the expiration or termination of the lease, or a statement that they do\nnot have those rights; and\n(f) Any rights of the unit owners to renew the lease and the conditions of any\nrenewal, or a statement that they do not have those rights.\n(2) After the declaration for a leasehold condominium is recorded, neither the lessor\nnor his  or her successor in interest may terminate the leasehold interest of a unit\nowner who makes timely payment of his or her share of the rent and otherwise\ncomplies with all covenants which, if violated, would entitle the lessor to terminate\nthe lease. A uni t owner's leasehold interest is not affected by failure of any other\nperson to pay rent or fulfill any other covenant.\n(3) Acquisition of the leasehold interest of any unit owner by the owner of the reversion\nor remainder does not merge the leasehold and f ee simple interests unless the\nleasehold interests of all unit owners subject to that reversion or remainder are\nacquired.\n(4) If the expiration or termination of a lease decreases the number of units in a\ncondominium, the allocated interests shall be real located in accordance with KRS\n381.9113(1), as though those units had been taken by eminent domain.\nReallocations shall be confirmed by an amendment to the declaration prepared,\nexecuted, and recorded by the association.","path":["KRS Chapter 381"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=36834","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:11Z","sha256":"ba7b05a455419956f57837d3660889923584b21be147adfbd4b161e0316932e0","source_id":"us-ky","stale":false,"prev":"us-ky/krs-381.9133","next":"us-ky/krs-381.9137"},"notice":"GroundRules: Original legal text. Not legal advice."}