This form is a Master Deed. This Master Deed is executed by a developer pursuant to the provisions of the Condominium Act. The deed contains a legal description of the project and the responsibilities of the co-owner.
Kentucky Condominium Master Deed - Residential Condo Development
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How to fill out Condominium Master Deed - Residential Condo Development?
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FAQ
Law shall not prevent a person (not holding himself out as a practicing attorney) from writing a deed, mortgage, or will.
The grantor must sign the deed and signatures must be acknowledged (notarized). The grantor and grantee must sign the consideration statement and the signatures must be notarized. The document must be filed in the county clerk's office of the county where the property is located (or the greater part).
(1) All deeds, mortgages and other instruments required by law to be recorded to be effectual against purchasers without notice, or creditors, shall be recorded in the county clerk's office of the county in which the property conveyed, or the greater part thereof, is located.
The title "Horizontal Property Law" is derived from the fact that under the condominium concept, a building may be divided into horizontal units or floors, each being a distinct legal entity However, the condominium goes one step further in permitting the sub-division of a horizontal unit into vertical units.
Master deed. This is a deed filed by a condominium owner to record the property and allow sales of the individual condos and use of communal areas by owners.
Kentucky deeds must include a statement of full consideration with the current owner's and new owner's notarized signatures. The statement of full consideration?also called a consideration statement?may appear on the face of the deed or within a separate consideration certificate attached to the deed.
However, preparation of deeds and mortgages constitutes the practice of law and must be prepared by an attorney.
Kentucky requires the person transferring property (the grantor) and the person receiving property (the grantee) to sign the deed. A deed from or to more than one person must be signed by all grantors and grantees. A deed involving an entity must be signed by a representative with legal power to act for the entity.
