The net proceeds of the sale or mortgage of real estate by a fiduciary shall be held, invested or distributed for the benefit of the persons who, but for the sale or mortgage, would be entitled to the income derived therefrom or the possession thereof, in accordance with law or the will or trust under which he is acting.
KRS 389A.025
Proceeds of sale or mortgage for benefit of persons entitled thereto
Effective: July 15, 1980 History: Created 1980 Ky
Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.