{"data":{"id":"us-ky/krs-426.290","jurisdiction":"us-ky","citation":"KRS 426.290","heading":"Sale of encumbered property under execution -- Rights of purchaser,","body":"creditor -- Redemption -- Bond of purchaser of personalty -- Control of courts.\n(1) If the defendant in an execution owns the legal title to any real or personal property\non which a b ona fide encumbrance created prior to the execution lien exists, the\ninterest of the defendant in the property may be levied on and sold, subject to the\nencumbrance.\n(2) The purchaser at the sale shall acquire a lien on such property for the purchase\nmoney, and interest at the rate of ten percent per annum from the day of sale until\npaid, subject to any prior encumbrance.\n(3) Any other creditor, whether by judgment or otherwise, may, after such execution\nand sale, by equitable proceedings, subject the enc umbered property to sale, and,\nafter satisfying prior liens, have his demand satisfied out of the proceeds of the\nresidue. The proceedings in equity shall be instituted before the purchaser has, by\nsuit, enforced the lien provided for in subsection (2) of this section.\n(4) The defendant in the execution may redeem the property sold by paying the original\nencumbrance, with legal interest thereon, and by paying the purchaser his purchase\nmoney, with ten percent per annum interest thereon.\n(5) The purchaser of encumbered movable property shall, before possession is\ndelivered to him, give an obligation with good surety payable to the encumbrancer\nand the owner, stipulating that the property shall not be removed out of the county\nand shall be preserved and fort hcoming, unavoidable accidents excepted, to answer\nthe encumbrance, and for redemption, and deliver the obligation to the officer to be\nreturned with the execution.\n(6) Courts of equity shall have control of all encumbered property sold under execution,\nand may make all needful orders for the preservation and forthcoming of the\nproperty and its issues and profits, to satisfy the encumbrance and to secure the\nrights of others.","path":["KRS Chapter 426"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=18459","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:59:44Z","sha256":"f8257e25a5f186abadc5cd3a46830cec80807dd80ca33908b3e3c87c0ab45f1d","source_id":"us-ky","stale":false,"prev":"us-ky/krs-426.280","next":"us-ky/krs-426.295"},"notice":"GroundRules: Original legal text. Not legal advice."}