{"data":{"id":"us-ky/krs-381.9185","jurisdiction":"us-ky","citation":"KRS 381.9185","heading":"Conveyance or encumbrance of common elements.","body":"(1) Portions of the common elements may be conveyed or subjected to a lien or security\ninterest by the association if persons entitled to cast at least eighty percent (80%) of\nthe votes in the association, including eighty percent (80%) of the votes allocated to\nunits not owned by a declarant, or any larger percentage the declaration specifies,\nagree to that action; however, all the owners of units to which any limited common\nelement is allocated shall agree in order to convey that limited common element or\nsubject it to a lien or security interest. The declaration may specify a smaller\npercentage only if all of the units are restricted exclusively to nonresidential uses.\nProceeds of the sale are an asset of the association.\n(2) An agreement to convey common ele ments or subject them to a lien or security\ninterest shall be evidenced by the execution of an agreement, or ratifications thereof,\nin the same manner as a deed, by the requisite number of unit owners. The\nagreement shall specify a date after which the agr eement will be void unless\nrecorded before that date. The agreement and all ratifications thereof shall be\nrecorded in every county in which a portion of the condominium is situated, and\nshall be effective only upon recordation.\n(3) The association, on beh alf of the unit owners, may contract to convey common\nelements, or subject them to a lien or security interest, but the contract is not\nenforceable against the association until approved pursuant to subsections (1) and\n(2) of this section. Thereafter, the association has all powers necessary and\nappropriate to effect the conveyance or encumbrance, including the power to\nexecute deeds or other instruments.\n(4) Any purported conveyance, encumbrance, judicial sale, or other voluntary transfer\nof common elements, unless made pursuant to this section, shall be void.\n(5) A conveyance or encumbrance of common elements pursuant to this section shall\nnot deprive any unit of its rights of access and support.\n(6) Unless the declaration otherwise provides, a conveyance or encumbrance of\ncommon elements pursuant to this section does not affect the priority or validity of\npre-existing encumbrances.","path":["KRS Chapter 381"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=36858","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:12Z","sha256":"77dd3544a94768052e5b7fdee520150a947b4123583342bfab5ed62d22cc6df3","source_id":"us-ky","stale":false,"prev":"us-ky/krs-381.9183","next":"us-ky/krs-381.9187"},"notice":"GroundRules: Original legal text. Not legal advice."}