{"data":{"id":"us-ky/krs-99.840","jurisdiction":"us-ky","citation":"KRS 99.840","heading":"Distribution of sale proceeds -- Delivery of deed to purchaser -- Report to","body":"court and interested parties.\n(1) If the proceeds of the sale are insufficient to pay all existing liens, claims, and\nencumbrances, the proceeds shall be distributed according to the priorities set out in\nsubsection (2) of this section and all unpaid liens, claims, or encumbrances which\nhave not been assumed under subsection (2) of this section shall be extinguished.\n(2) The proceeds of the sale shall be applied in acco rdance with the following priorities\nto:\n(a) Costs and expenses of sale;\n(b) State and local government tax liens, unless priority is waived by a local\ngovernment in accordance with KRS 99.835;\n(c) Principal and interest on any borrowing or incurrence of i ndebtedness granted\npriority over existing liens and security interests under KRS 99.820;\n(d) Costs of rehabilitation;\n(e) Properly recorded local government code enforcement liens existing pursuant\nto KRS 65.8835;\n(f) Other valid liens and security interests in accordance with their priority;\n(g) The owner; and\n(h) If the owner cannot be located, any proceeds from the sale which belong to the\nowner shall be presumed to be abandoned and unclaimed and shall be subject\nto the custody and control of the Commonwealth.\n(3) Following confirmation of the sale by the court, the conservator shall execute and\ndeliver a deed within ten (10) days conveying title to the property to the purchaser\nfree and clear of all existing liens, claims, and encumbrances in accordance  with\nthis section and KRS Chapter 132.\n(4) As soon as reasonably possible following delivery of the deed to the purchaser, the\nconservator shall submit to the court and all parties in interest a report of sale in\nwhich the conservator certifies all of the following:\n(a) That the sale was conducted in accordance with the order authorizing the sale;\n(b) The date of the sale;\n(c) The name of the purchaser;\n(d) The purchase price;\n(e) The amount of the net proceeds of the sale;\n(f) A copy of the closing statement, if a closing statement was prepared; and\n(g) Any other information that the court may require.","path":["KRS Chapter 99"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=51842","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:02Z","sha256":"99f75faf94aae66357b3331687f99c0ce962b72119a356c6ce7d78bc589677c1","source_id":"us-ky","stale":false,"prev":"us-ky/krs-99.835","next":"us-ky/krs-99.845"},"notice":"GroundRules: Original legal text. Not legal advice."}