Ky. Cir. Ct. Clerks' Manual REDEMPTION OF LAND SOLD UNDER EXECUTION OR JUDICIAL SALE

83 REDEMPTION OF LAND SOLD UNDER

EXECUTION OR JUDICIAL SALE

KRS 426.220, 426.530

Under certain circumstances the defendant may redeem or buy back his/her

land which was sold on execution or at a judicial sale.

83.1 Redemption of Land Sold Under Execution

If land sold under execution does not bring two-thirds of its appraised value, the

defendant and his representatives may redeem it within six months from the

day of the sale, by paying the purchaser or his representative the original

purchase money and ten percent per annum interest thereon.

Quick Reference

1. The defendant will deliver a receipt from the purchaser. Apply the

File, date, initial

FILED stamp; add the date and your initials.

2. File the receipt on a document screen in the existing case file using

Document type REC

document type REC.

NOTE: The defendant may pay to the clerk the redemption money for

the purchaser if the purchaser refused the money or the purchaser does

not reside in the county where the land lies or in the county where the

judgment was obtained. The defendant may, before the expiration of 6

months, go to the clerk of the court where the execution issued and

make affidavit of the tender and the refusal or that the purchaser does

not reside in either county.

3. If you receive an affidavit regarding the status of the purchase and

File, date, initial

purchase money is deposited with you apply the FILED stamp to the

affidavit; add the date and your initials.

Document type AFF

4. File on a document screen in the existing case file using document type

AFF and memo “Affidavit of the Tender or Refusal.”

5. Receipt the purchase money as "Money Collected for Others.” For more

information, see the Accounting Manual.

REDEMPTION OF LAND SOLD UNDER EXECUTION OR JUDICIAL SALE

83.2 Redemption of Land Sold by Judicial Sale

If real property sold in pursuance of a judgment or order of a court, other than

an execution, does not bring two-thirds of its appraised value, the defendant

and his representatives may redeem it within six months from the day of sale,

by paying the original purchase money and ten percent per annum interest

thereon. The defendant or his/her representative who wishes to redeem the

property must also pay any reasonable costs incurred by the purchaser after the

sale for maintenance or repair of the property. The defendant shall pay the

redemption money to the clerk of the court in which the judgment was

rendered or the order of sale was made.

1. Upon receipt of the redemption money by the defendant give a receipt

to the defendant.

2. Receipt the purchase money as "Money Collected for Others.” For more

information, see the Accounting Manual. Money collected should be

remitted to the purchaser.

3. Provide a copy of the receipt to the master commissioner as notice.

Upon payment by the defendant, the master commissioner shall convey

the real property to the defendant.