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 Requirements: A Detailed Explanation In Kentucky, deed recording requirements refer to the set of guidelines and procedures that must be followed when recording property deeds with the County Clerk's office. The purpose of these requirements is to establish a reliable record of ownership and transfers of real estate within the state. Adhering to these requirements is crucial to ensure the validity and enforceability of property transactions in Kentucky. 1. General Requirements: — Title Information: A complete and accurate description of the property, including its legal description, must be provided in the deed. Granteror and Grantee Information: The full names and addresses of the granter (seller) and grantee (buyer) must be included. — Signatures: The deed must be signed by the granter(s) and notarized by a notary public. — Witness and Acknowledgment: Two disinterested witnesses must witness the granter's signature, and the deed must be properly acknowledged before a notary public. — Consideration: The amount of consideration (typically the purchase price) exchanged between the parties must be stated in the deed. 2. Specific Requirements: — Tax Information: Kentucky law requires that the property's tax identification or assessor's parcel number be listed on the deed. — Preparation: Deeds must be prepared on white, letter-sized paper, with a margin of at least one inch on all sides. — Recording Fees: The appropriate recording fees must be paid at the time of submission. These fees may vary depending on the county and the number of pages in the deed. — Conveyance Documents: Additional documents, such as a Real Estate Transfer Certificate, may be required to accompany the deed for proper recording. Types of Kentucky Deed Recording Requirements: 1. Warranty Deeds: These deeds provide the highest level of protection to the grantee, guaranteeing that the granter has the legal right to transfer ownership and that the property is free of any undisclosed liens or encumbrances. 2. Quitclaim Deeds: This type of deed transfers the granter's interest in the property "as-is," without any guarantees or warranties. Quitclaim deeds are commonly used for transfers between family members or in situations where the granter's interest may be uncertain. 3. Special Purpose Deeds: Kentucky also recognizes various special purpose deeds, such as Trustee's Deed, Executor's Deed, Commissioner's Deed, and Sheriff's Deed, each serving a specific purpose related to property transfers under particular circumstances. Understanding and complying with Kentucky deed recording requirements is essential for property owners, buyers, and sellers, as noncompliance may result in legal complications and challenges in asserting ownership rights. It is advisable to consult with an experienced real estate attorney or a title company to ensure all requirements are correctly met before recording a deed in Kentucky.
