AN ACT relating to real property purchased at a master commissioner's sale.

Amend KRS 91.514 and create a new section of KRS Chapter 426 to establish that any residential property that is purchased at a master commissioner's sale or other court-ordered sale in a county that has a land bank authority and was occupied at any time within the two years prior to the sale must undergo renovations within six months of obtaining the title to the property and must be returned to a state of occupancy within specified time periods; define terms; establish a fine of $100 per day payable to the local government for noncompliance.

Introduced: February 5, 2025

Last action: February 7, 2025

To Local Government (H)

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This bill would require buyers of residential properties sold through court-ordered sales in counties with a land bank authority to renovate those properties and make them livable again within set time periods, as long as the home was occupied at some point in the two years before the sale. Buyers who do not meet these deadlines would be fined $100 per day, with that money going to the local government. Who it may affect: people who purchase homes at court-ordered sales, neighboring residents, and local governments in counties that have a land bank authority.

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