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KRS 427.090

Payment of money in lieu of homestead exemption

Effective: April 9, 1980 History: Amended 1980 Ky

If the defendant in the execution, attachment or other action owns property levied on or sought to be subjected to the payment of any debt or liability, which, in the opinion of the appraisers, is of greater value than five thousand dollars ($5,000) and not divisible without great diminution in value, the property shall be sold and five thousand dollars ($5,000) of the money arising from the sale paid to the defendant to enable him to purchase another homestead. The property shall not be sold for less than five thousand dollars ($5,000).

Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.