The Final Notice of Forfeiture and Demand Buyer Vacate Property form notifies the Purchaser, after all prior notices of breach have expired, that Seller has elected to cancel the contract for deed in accordance with its terms and all past payments made by Purchaser are now considered forfeited and any future occupancy of property will result in action by the court.
Kentucky Deed Recording Fees: A Comprehensive Overview of Fee Types and Applications In Kentucky, deed recording fees refer to charges levied by the county or jurisdiction to record the transfer of real property ownership through a deed. These fees are necessary to ensure the accurate and legal documentation of property transactions and to maintain public records. Understanding the various types of Kentucky deed recording fees is crucial for both buyers and sellers engaged in real estate transactions. 1. Basic Deed Recording Fee: The basic deed recording fee is the standard charge for recording a deed in Kentucky. It is typically based on a per-page fee structure, where each page of the deed to be recorded incurs a specific cost. This fee covers the expenses associated with processing, indexing, and archiving the deed for public record. 2. Additional Fees: a) Transfer Tax: Some counties in Kentucky impose a transfer tax on property transactions. This tax, often based on the property's sale price or assessed value, is due at the time of recording the deed. The transfer tax supports local governments and may vary across different counties within the state. It is advisable to inquire about this fee from the county clerk's office or a real estate attorney to determine its applicability and amount. b) Mortgage Tax: In certain cases, Kentucky counties may also charge a mortgage tax when a deed records the transfer of a property with an associated mortgage. The mortgage tax is typically calculated as a percentage of the mortgage amount or loan secured by the property. This fee can differ from county to county, so consulting local regulations is essential for accurate information. 3. Additional Considerations: a) Multiple Pages: If your deed consists of multiple pages, each additional page may incur an extra fee. It is crucial to ensure the deed is correctly formatted to minimize unnecessary page charges. b) Notary Fees: Notarization of the deed is a requirement in Kentucky, and notary fees may be applicable. The notary fee is separate from the deed recording fee and is accounted for separately during the transaction. c) County-Specific Fees: Kentucky's deed recording fees can vary by county. While most fees follow a general structure, it is advisable to research the specific fees charged within the county where the property is located. To determine the specific Kentucky deed recording fees applicable to your property transaction, it is recommended to consult the county clerk's office or local real estate professionals. They can provide accurate and up-to-date information on fee structures, along with any recent changes or updates.
