How can a co-owner obtain monetary compensation instead of receiving physical property in KY?
Disclaimer: I am not a lawyer. This information is educational and not legal advice. For personalized guidance, consult a licensed Kentucky attorney. Quick overview If you co-own real estate in Kentucky and prefer money instead of keeping the physical property, you generally have two paths: negotiate a voluntary buyout with the other owners, or ask […]
Read article →Can I negotiate with my siblings to avoid a partition action on inherited property in Kentucky?
Detailed Answer Under Kentucky law, any co-owner of real estate—including heirs who inherit property together—has the right to force a partition. A partition action ends co-ownership by selling or dividing the land so each party receives their fair share. In Kentucky, these actions are governed by Kentucky Revised Statutes (KRS) Chapter 381 (see KRS 381.140 […]
Read article →How can a co-owner seek reimbursement for improvements made to estate real property under Kentucky law?
Disclaimer: This article is for educational purposes only and does not constitute legal advice. Detailed Answer When multiple people co-own estate real property in Kentucky, each owner (cotenant) has equal rights to possess the entire property. However, paying for improvements is another matter. Kentucky law provides methods for a cotenant to seek reimbursement or credit […]
Read article →How to Prepare a Jointly Owned Property for Sale Before a Foreclosure Hearing in Kentucky
Disclaimer: This information is not legal advice. Consult a qualified attorney licensed in Kentucky to discuss your specific situation. Detailed Answer When two or more people own property together in Kentucky and face an impending foreclosure hearing, a coordinated sale can help preserve equity, satisfy the mortgage, and avoid a court-ordered sheriff’s sale. Follow these […]
Read article →How to Coordinate Realtor Selection with a Co-Owner for a Joint Property Sale in Kentucky
Detailed Answer When two or more owners decide to sell jointly held real estate in Kentucky, clear coordination ensures a smooth sale. First, confirm your co-ownership type—joint tenancy or tenancy in common—as it affects decision-making and proceeds distribution. Under KRS 381.010, any co-owner can file a partition action if owners cannot agree on sale terms. […]
Read article →How to Calculate and Recover Carrying Costs from a Co-Owner in a Joint Sale Agreement in Kentucky
Detailed Answer In Kentucky, co-owners of real property—known as tenants in common—must share the costs of holding and maintaining the property ("carrying costs"). Carrying costs typically include property taxes, mortgage interest, insurance premiums, maintenance, and utilities. When one co-owner pays more than their fair share, Kentucky law allows that co-owner to seek reimbursement from the […]
Read article →What rights do co-owners have in Kentucky when one heir wants to live in inherited property while another wants to sell?
Disclaimer: This article is for informational purposes only and does not constitute legal advice. Detailed Answer When property passes to multiple heirs in Kentucky, those heirs become co-owners (tenants in common) by default. Each co-owner holds an undivided share and has equal rights to possess, use, and enjoy the entire property, regardless of the size […]
Read article →What Steps Are Required to Initiate or Consent to a Partition Action Before a Court-Appointed Commissioner in Kentucky
Detailed Answer Under Kentucky law, a partition action lets co-owners of real property divide or sell land when they cannot agree on its use or disposition. The process is governed by KRS Chapter 392. Below are the key steps to initiate a contested partition or to consent to one before a court-appointed commissioner. 1. Identify […]
Read article →What Options Exist if Kentucky Co-Owners Cannot Agree on a Buyout Price?
Disclaimer: This article is for informational purposes only. It does not constitute legal advice. Consult a licensed attorney in Kentucky for guidance on your specific situation. Detailed Answer When co-owners of real property in Kentucky cannot agree on a buyout price, the law offers several pathways to resolve the deadlock: Negotiation and Mediation: Co-owners can […]
Read article →Do I Gain Ownership Interest by Paying Property Taxes in Kentucky?
Detailed Answer Under Kentucky law, paying real property taxes on land you don’t own does not by itself give you any ownership interest. Only the person holding record title—shown on the deed in county land records—has legal title. Here are two limited exceptions where tax payments can affect rights: Tax‐lien purchaser at a delinquent tax […]
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