On April 10, 2018, Kentucky Governor Bevin signed into law Senate Bill 139, which amends K.R.S 382.135 to require that a deed contain the “full name” of the grantor(s) and grantee(s), in addition to what the statute previously required, including:
- the mailing addresses of the grantor and grantee;
- a statement of the full consideration;
- a statement indicating the in-care-of address to which the property tax bill for the year in which the property is transferred may be sent;
- and either (1) a sworn, notarized certificate signed by the grantor or his agent and the grantee or his agent, that the consideration reflected in the deed is the full consideration paid for the property, or (2) a sworn, notarized certificate signed by the grantor or his agent and the grantee or his agent, stating that the transfer is by gift and setting forth the estimated fair cash value of the property.
The newly enacted Senate Bill 139 also demands that in the event that a deed is recorded by a county clerk, that recordation shall constitute adequate notice to third parties of the transfer of the property and shall be admissible as evidence of such transfer even if the instrument is not in compliance with KRS 382.135. In essence, despite deficiencies in the deed, if it is recorded by the county clerk, the deed shall serve as record notice to third parties.
Since DBL Law’s founding, the firm has offered its clients superior assistance in both commercial and residential real estate matters. DBL Law real estate attorneys take an active role in the acquisition, financing, development, management, construction, leasing and sale of real estate.
In addition, DBL Law offers a full range of title services through its subsidiary, Excel Title Services LLC. Excel Title is able to offer the full range of Ohio and Kentucky title insurance products.
Contact DBL Law if you wish to discuss any aspect of your commercial or residential real estate needs with us.