Lenders

Why us?
Gain Peace of mind and eliminate worry. Have complete confidence that you and your Realtors & borrowers are in good hands with our expert closers (former lenders!) and on-staff attorneys.  Speedy responses, quick turn-around for search/CD-prep., thorough communication, and advance heads-up on any potential problem make your title experience worry-free. We understand how to KEEP DEALS TOGETHER, while making everyone happy…which generates referrals for you!

 

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Hollie Overholt, Sr. Loan Processor, Chase Mortgage

Hi Monroe, I really enjoy working with Jennifer too. She is always very polite, sends me the entire package all in one attachment and is quick when we send a request over. AND everything is correct! The CPL, fee sheets and title all match. That is the worst when I have to send stuff back to someone (never Jett) and ask them to match all docs to title vesting. You’d be surprised what I get sometimes.  Thought you would like to feel some positive vibes today 😉

K.S., Fifth Third Mortgage

Customer service personified.  Thanks.

Phyllis Montgomery, Mortgage Loan Officer

…to let each of you know that I really value your service on every loan…Thank you so much for getting it done and getting it done with excellence.  P.S. You are a class act – and uncommon commodity in today’s business world

C.T., BB&T Mortgage

…you have an excellent staff which is one of the reasons I prefer to send my business to you – in addition to them, the word on the realtor street is that you are the best and you treat our customers with respect as well as keep them well informed.

Julie Baker, Fifth Third Mortgage

…Also a note to Monroe…not only are you guys the best, even your friends are the best! ...

Josh R., Mortgage Loan Officer

…Monroe and his staff work diligently to make me as a loan officer look good and make it easy to ask for the referrals from realtors.  I appreciate and value our relationship.

Noreen Jeremiah, BB&T Mortgage

It could not have been done any better! I was so impressed…by your pre-planning/ actual presentation/ and your follow thru!  You were excellent…thanks for all the encouragement and help!

John Lann, Churchill Mortgage

If we haven’t told you lately, we really appreciate all you do for us.  Being the new kid on the block here, I really enjoy using your company…I keep telling the LOs how great you are. Again, thanks for the great service.

John Flick, Closer

…I appreciate your business.  You guys have it really together…I love getting docs ahead of time.  It’s a pleasure working for and with you, my friend.

D.P., Mortgage Loan Officer Assistant

Your girls are doing an outstanding job. The ladies are wonderful to work with, easy and get the job done!

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Frequently Asked Questions

What is a mortgage?

What is a mortgage?  
The mortgage is a list of covenants between you and the lender.  It says that as long as you abide by those covenants, the lender will leave you alone.  So, what are you agreeing to?
1.That your house is being used as collateral on the loan. So if you default on the loan, the lender will repossess your house and sell it.  With the sales proceeds they will pay off your loan.  If there is not enough sales proceeds to pay off your loan, then the lender will file a default judgment lien agains you which will prevent you form buying another home until it is paid off or released.  Most of a mortgage’s language is regarding this issue.
2. That you’ll keep the home in a general state of good repair, that you’ll keep the property insured, and that you’ll make your payments on time.  If you don’t make your payments on time, the loan can go into default.  Default is covered above.
3. It also says things like you cannot store any hazardous materials on the property.
These covenants are there so that in the unlikely event that the lender has to foreclose upon you, that a) they can do so, and b) the house is still in marketable condition.

A mortgage is a lien  A lien is a right to stand in line when a property sells, to get paid back the lien amount, plus interest/penalties.  Liens stack up in chronological order.  The first lien to be recorded at the clerk’s office is in “first position”. 2nd is in 2nd position, and so on.  Mortgage companies require their mortgage to you to be in first position, when you buy a house.
The mortgage must be recored at the county clerk’s office, in the county in which the property is located.
Yes, a mortgage is simply a lien held by a lender.  It essentially states, that if you pay you stay, and if you don’t, you won’t = meaning, if you default on your loan, you’ll be foreclosed upon and your home will be repossessed by the bank.  The bank will then sell the house and pay off/down your loan with the sales proceeds.  If there is not enough sales proceeds to pay off your loan (a “shortfall”), then the lender will file a default-judgment-lien against you, and you will not be able to buy another house without first paying off that shortfall, plus legal fees, interest and penalties.  You may be able to negotiate some settlement that is less than the full amount owed, in exchange for release of this default judgment lien – you may even get the lender to foreclose on you withOUT a default judgment for any shortage.
Attaches – Whenever a lien is recorded at the county clerk’s office, against a person, it automatically attaches to all pieces of real estate that person owns in that county.  The same lien may be recorded in multiple counties, in order to have it attach to all real estate the person owns in those counties – especially when a property is known to span county lines.3. Types – There are all types of liens: Mortgages, judgment liens, state/fed/local tax liens, unpaid child support liens, HOA liens, etc.
Expiration – Different liens are valid for different lengths.  Some do not have expiration dates. Call your local county clerk’s office.
Releases – Once a mortgage is satisfied (paid in full), then a release must be filed at the county clerk’s office by the lender, within 30 days or there will be penalties to the lender.  These penalties increase over time.

What is a lien?

What is a lien?  A lien is a right to stand in line when a property sells, to get paid back the lien amount, plus interest/penalties.  Liens stack up in chronological order.  The first lien to be recorded at the clerk’s office is in “first position”. 2nd is in 2nd position, and so on.
1. A lien on real estate, must be recored at the county clerk’s office, in the county in which the property is located.
2. Whenever a lien is recorded at the county clerk’s office, against a person, it automatically attaches to all pieces of real estate that person owns in that county.  The same lien may be recorded in multiple counties, in order to have it attach to all real estate the person owns in those counties – especially when a property is known to span county lines.

3. Types – There are all types of liens: Mortgages, judgment liens, state/fed/local tax liens, unpaid child support liens, HOA liens, etc.
4. Yes, a mortgage is simply a lien held by a lender.  It essentially states, that if you pay you stay, and if you don’t, you won’t = meaning, if you default on your loan, you’ll be foreclosed upon and your home will be repossessed by the bank.  The bank will then sell the house and pay off/down your loan with the sales proceeds.  If there is not enough sales proceeds to pay off your loan (a “shortfall”), then the lender will file a default-judgment-lien against you, and you will not be able to buy another house without first paying off that shortfall, plus legal fees, interest and penalties.  You may be able to negotiate some settlement that is less than the full amount owed, in exchange for release of this default judgment lien – you may even get the lender to foreclose on you withOUT a default judgment for any shortage.
5. Expiration – Different liens are valid for different lengths.  Some do not have expiration dates. Call your local county clerk’s office.
6. Releases – Once a lien is satisfied (either paid in full, or when a partial payment is accepted in exchange for release), then a 1-page lien release must be filed at the county clerk’s office by the lienholder.

Property Taxes in Kentucky and Fayette Co.

Property Taxes in Kentucky (Fayette Co. is explained below)
1. They are paid in arrears, annually, on a calendar year.
2. All bills get mailed out sometime during the month of October, by each county’s sheriff’s department.
3. Tax bills most always get mailed to whoever the owner of record was, on January 1st of the current year. – This means that the seller, not you, will receive the tax bill in the mail in October.  
If you have a lender and you escrow your taxes/insurance, then this does NOT matter – Why? Because the lender will get online and get your tax bill and pay it – they do not wait to get something in the mail.
However, if you paid CASH for your house, or if you waived escrow, then YOU have to be the one to call the sheriff (or get on their website) to find out what your tax bill is, in October the FIRST year you own the home, and then pay your tax bill.
4. There is a 2% discount if paid in November.
5. The face amount of the bill is due if you pay in December.
6. Late fees will be a assessed if you pay after December 31st.
7. You may apply for a homestead exemption by calling your county’s PVA office (Property Valuation Authority). – That exemption (discount) is for folks over certain ages.  You might not be able to get this exemption in the year in which you buy your new home.
8. January 1st of each year, all new deeds are reviewed and the purchase prices are entered as your property’s new tax assessment value.
9. This means the year in which you buy your home, you will pay the tax bill based on the seller’s tax assessed value – usually less than the purchase price.  So, you get a little bit of a discount the first year.  The following year, on January 1st, the new price will be picked up and entered as the new assessed value of the property.

Fayette County is the only county out of 120 counties that does theirs a little differently – this difference ONLY affects prorations on the closing disclosure:
1. The issuance and payment of tax bills are the exact same in all 120 KY counties, as detailed above.
2. However, in Fayette County, when you pay your 12-months’ worth of taxes at the end of each year, you are actually paying half in arrears, and half in advance…that’s for the 2nd half of this year, and the 1st half of next year.  This is because Fayette County’s taxes are assessed on a fiscal year of July 1-June 1.  All this means is that the tax prorations on the closing disclosure my appear odd to folks not from Fayette County.  That’s it!
3. Example: Say you’re the buyer and your closing is going to be March 1st.  The sellers have paid their taxes, and that’s for all the way through June 30th.  So, you owe them back for the portion of the year they paid for but which you will be owning the home – you owe them a refund for the tax amount for March 1st thru June 30th.  The title company will show this prorated amount on the closing disclosure.  It will show as a charge to the buyers, and a credit to the sellers.

What documents do sellers sign?

What documents do sellers sign?
 In these documents you are usually either a) agreeing to something; b) swearing that something is true, or c) acknowledging receipt of the document and/or that you understand the document.
Actual:
a. Closing Disclosure and Settlement Statement – These summarize the transaction – show who’s paying what and who’s receiving what.  The are the key to the transaction and are usually reviewed first.
b. Deed
c. Title company’s few documents.
d. Occasionally lenders will have a document(s) of theirs that the sellers must sign as well – the most common one is where you swear that you have not lent the buyers any money in this transaction.

What are “prorations” that are on the Closing Disclosure?

What are “prorations” that are on the Closing Disclosure?

HOA dues Example: The seller has paid the Homeowners Association Dues all the way thru the end of the year.  But you are buying the house today, and will own if through the end of the  year, so you own the seller back the amount of HOA dues form today through the end of the year.  On the closing disclosure, we will show a deduction from the buyer’s side of that pro-rated amount of HOA dues, and a credit to the sellers’ side.  That si an example of a proration.

Taxes Example: If the seller has already paid taxes, then you as the buyer owe the seller back the prorate share of taxes for those number of days left in the year.

Rents example: If you’re buying a rental property and close on day 10 of the month, the seller gets the amount of that monthly rent equal to the first 10 days, and you as the buyer get the rent amor the 11th-the end of the month. 

The bottom line of prorations is, that they make sure that each party (buyer and seller) only pay for the fees/taxes/etc. associated with the home, for the portion of the year in which they own that home.  The settlement agent enters the amounts and periods into its’ software, and it makes these proration calculations and prints the resulting, accurate-to-the-day prorations on the closing disclosure.  They are labeled and the dates are shown as well.

Can anyone prepare a deed, or do I have to use a title co.?

Can anyone prepare a deed, or do I have to use a title co.?

The deed preparation is a seller-expense and seller-responsibility in Kentucky.  

Technically, any seller (attorney or non-attorney) can prepare their own deed; however, it must contain all the correct language, for the situation, in order for it to do what you want it to do…and in order for it to be acceptable for recording by the county clerk’s office.  For these reasons, sellers (attorneys and non-attorneys) rarely ever prepare their own deeds – they want and need their deed to be correct so they use a reputable settlement agent – like Jett Title.

Why is there no advantage of having an attorney as my closer? Per the KY Supreme Court, 11-0

The title co. works for, and represents, the lender and not the buyers or the sellers.  The title co. is hired by the lender to finalize the transaction, record the lender’s mortgage in 1st position at the clerk’s office, and issue the lender a title insurance policy.

Therefore, if an attorney happens to be the closer, he/she is prohibited by law from providing any legal advice to any party at the closing table.  The attorney must refer the parties to seek their own competent legal counsel.  The Kentucky Supreme Court ruled 11-0 that there is no advantage to having an attorney at the closing table versus a non-attorney.  What matters is competence, character and service.

Why does the settlement agent (title co.) represent the lender and not the buyers or the sellers?

Why does the settlement agent (title co.) represent the lender and not the buyers or the sellers?

The title co. works for the lender and not the buyers or the sellers.  The title co. is hired by the lender to finalize the transaction, record the lender’s mortgage in 1st position at the clerk’s office, and issue the lender a title insurance policy.

Therefore, if an attorney happens to be the closer, he/she is prohibited by law from providing any legal advice to any party at the closing table.  The attorney must refer the parties to seek their own competent legal counsel.  The Kentucky Supreme Court ruled that there is no advantage to having an attorney at the closing table versus a non-attorney.  What matters is competence, character and service.

What is a settlement agent, title company, real estate attorney? 

What is a settlement agent, title company, real estate attorney?  A title company, real estate attorney, closing company, and many other terms, are all terms frequently used interchangeably to describe “settlement agents”.  Title companies are either owned by, or employ real estate attorneys – Jett Title does both.  All settlement agents perform the exact same legal function – they finalize, “close”, real estate transactions.  
A settlement agent is the third party who makes everyone at the closing table happy (sellers are the 1st party, buyers are the 2nd party; everyone else in the transaction are 3rd parties):  The buyers want a deed & keys to a house; the sellers want a check; and all the other third parties who helped make the transaction possible (realtors, appraiser, lender, title, etc.) need to be paid for their services; the lender needs their documents signed in the right spots, by the right people in the right ways; money needs to change hands; the sellers’ liens/mortgages need to get paid off; the buyers’ new deed and mortgage need to be recorded at the county clerks’ office after the closing to make them official record…and many other tasks need to be completed to legally finalize the real estate transaction.

What about extra funds I may bring to closing?

What about extra funds I may bring to closing? We give you a check back at the closing table for any excess funds you may bring.
Ex: You may bring the full proceeds check you got earlier that same day from the sale of your prior home…and that check may total more than you need for our closing with you.  You will endorse it to us AT THE CLOSING TABLE, not before. This is for your protection.
Ex: You happen to bring a cashier’s check for an over-estimated amount.
No problem for either of these examples.  Please let us know in advance if you know the amount you’ll be bringing to our closing, so we can already have your refund check ready for you when you arrive at our closing.

Funds to close – Cashier’s Check, Wire? How do I send a wire?

Your funds to close:  
Must be either in the form of a
1. A cashier’s check payable to Jett Title, OR
2. An electronic wire to us – Call Jett Title for our wire instructions, then take these instructions to your bank in person (most banks do not allow phone-in wires!!)…and wire funds the day BEFORE closing.  Wired funds must show in the title company’s account before a closing is permitted to take place.

What do I need to bring to closing? 

What do I need to bring to closing? 
a. Your unexpired, government-issued photo-IDs.  1 form of ID, per person, is all we need.
b. Your legal spouse – even if he/she is not going to be on the deed or the loan. State law forces spouses to sign a few disclosures for their protection. See this link for Spousal Rights – Who has to attend closing.
c. Your funds needed to close:  A cashier’s check payable to Jett Title OR you may electronically wire the funds to us – Call Jett Title for our wire instructions, then take these instructions to your bank in person…and wire funds the day BEFORE closing. Wired funds must show in the title company’s account before a closing is permitted to take place.

What if a buyer or seller can’t attend the closing?

What if a buyer or seller can’t attend the closing?
If you just need to come earlier or later to sign your part, usually that’s not a problem, but you must call to arrange this.

If you will be out of town, or if a buyer is unable due to health/other, then call the title co. ASAP to arrange someone to sign for you using our special/specific/limited power of attorney (POA) – cheapest and easiest solution, for about $100; OR we can arrange a mobile notary closer to come to you at the time and location of your convenience, anywhere in the U.S. for about $175 – requires several days’ advance notice.

1. A seller POA can be done easily, and we need as much lead time as possible to prepare it, get it to you, have you sign/notarize, and return it by FedEx
2. A buyer-POA, however, is time consuming and must be approved by the buyer’s lender first! Need at least a week for this to happen.  
3. Most lenders do NOT permit buyer-POAs unless there are serious circumstances – “work” does not qualify.  
4. You must use the title company’s specific/limited power of attorney format – never use templates from the Internet – they normally never have the needed language in them.

What documents do buyers sign?

What documents do buyers sign?
About:  They are regulated by state and/or federal governments.  You cannot make any changes to them and you have to sign them exactly as they are.  There are only 6 things that differ from your loan and everyone else’s loans in Kentucky: Names, dates, dollar amounts, interest rates, property address and the length of your loan.  That’s it.  Everything else is boiler plate and identical all across Kentucky.  On conforming loans, the type most borrowers choose, 98% of the docs are the same all across the U.S.  In these documents you are usually either a) agreeing to something; b) swearing that something is true, or c) acknowledging receipt of the document and/or that you understand the document. The lender has to have you sign many of these documents in order to be able to go after you in the event you have (or will) commit fraud that causes then a financial loss.
Actual:
a. Closing Disclosure and Settlement Statement – These summarize the transaction – show who’s paying what and who’s receiving what.  The key to the transaction and usually reviewed first.
b. Title company’s few documents. 
c. Promissory Note – says you promise to pay the lender back the amount that you’re borrowing – shows interest rate, 1st and last payment dates.
d. Mortgage – Says if you don’t pay, you don’t stay – gives the lender the right to repossess your house if you default on your loan.
e. The rest of the documents.

Do buyers and sellers need to arrive at the closing at the same time?  

Do buyers and sellers need to arrive at the closing at the same time?  Yes.  Sellers AND buyers need to arrive at the start of closing.  In days gone by, sellers would not show up until later – however, this now only complicates and delays the closings.

How long does a closing last? 

How long does a closing last? Ours last an average of 40 minutes – they range from 30-60 minutes. Sellers only sign about 14 documents. Buyers sign from 50-70 times, depending on the lender and loan type. 

Location of closing?

Location of closing? 
Usually they take place in the office of the lender, the Realtor or the title company.

Refinances, however, can also take place in the borrowers’ home or office, depending upon all party’s schedules.

What is a closing?

What is a closing?  It is the 30-60 minute meeting of buyers, sellers, realtors and loan officer, led by the title company’s “closer”.  In this meeting, document explanation/signing takes place to make the transaction official and finalized…or “closed”.
The title company collects all monies form the buyer and the buyer’s lender at closing.  Then, out of those funds, the title company pays all the other 3rd parties who helped make the transaction possible for their services (Lender, realtors, appraiser, home owners insurance company, tax authorities, etc.); the title company also pays off all the sellers’ liens, and then gives what’s left over (the “sellers proceeds”) to the seller.  The buyer walks out as a new homeowner with keys, and the s. Sellers leave to go to the closing of their new home with the sales-proceeds check they just received.

Top 10 Buyer Mistakes

Top 10- mistakes made by home buyers after making their loan application:
1. Paying off ANY debt, regardless of how small or large. EVEN if it’s not you would be paying off the debt. Having enough cash to close can be an issue and you may need all you’ve currently got…and you may need the funds from that family member for down payment instead.
2. Adding ANY more debt, regardless of how small. Don’t buy anything, even if it’s for the new house. Additions and even subtractions can lower your credit score –talk to your loan officer with any questions on this before acting.
3. Getting married or divorced, or conceal true legal marital status. Tell your loan officer immediately of any plans regarding this. The loan officer must know exactly what your legal marital status will be at the time of the closing due to state law that require certain documents to be signed or not signed, depending on this. Names of all spouses must be provided asap.
4. Moving “large” amounts of money in or out of your checking/savings accounts OTHER than payroll. If you are expecting some unusual amount of a gift or income from somewhere, be certain to tell your lender immediately, as far in advance as possible – hopefully BEFORE you take application. There is a specific process for handling gift funds that must be followed.
5. Quitting your job. Verbal verifications of employment take place at random, prior to close – even on closing day and up to several days afterwards. Misrepresenting your employment could be interpreted as mortgage fraud and result in a purchase being unwound after it has closed.
6. Starting another job. Depending on what kind/type of job it is. Without track record, may not be able to count all your income, which means you may not be able to afford the house you want.
7. Change your pay structure from salary to bonus or to commission. Without track record, may not be able to count all your income, which means you may not be able to afford the house you want.
8. Starting your own company. Likely cannot count income unless owned company for 2 years. Without track record, may not be able to count all your income, which means you may not be able to afford the house you want.
9. Changing industries that you work in. Income history and consistency is important. Without track record, may not be able to count all your income, which means you may not be able to afford the house you want.
10. Incompletely and slowly providing the loan officer with any & all of the supporting documents he/she has to ask you to provide. You will be asked early and often for documents due to the extensive and burdensome federal regulation that has been enacted as of 1-1-10 – expect these requests to be redundant, inconvenient, seemingly trivial and even last minute.  If you are asked for a W-2 that does not mean a paystub.  If you are asked for a bank statement, that does not mean a transaction history printed from a website – also, if the statement reads pages 1 of 6, then send ALL 6 even if the last one says “Left blank intentionally”; If you are asked for a tax return, that does not mean just pages 1 and 2.

Who has to attend closing? Dower and Courtesy – Spousal Rights to Real Estate in Kentucky

What are marital rights to real estate (Dower and Curtesy)? 
By state law in Kentucky, if you buy a property in your sole name, your spouse will instantly have an ownership interest in that property – just by the fact that you are legally married.  Names on deeds do not solely determine ownership; Names PLUS marital status does.  The same is true if you bought the property before you got married – once you marry, the new spouse gains an ownership interest.  How much of an ownership interest is dependent upon a variety or factors which we won’t get into here, but it can be 0% and up.  This ownership interest that your spouse has is called a “marital interest”, or “spousal interest”.  Marital rights exist in KY and in 23 other states. Dower rights refer to the wife’s rights and Curtesy rights refer to the husband’s rights.  Kentucky Revised Statutes are below.

Who has to attend closing? 
1. All title-holding spouses must attend all closings
. “Title holding” means their names are on the deed.
2. All NON-title-holding spouses must attend all closings as well, only to sign marital-rights documents – see list below. 
3. *Cash purchases are NOT affected by marital rights.
In these cases, it is only one-to-buy.
4. All sales are affected by these rights.  
Therefore all title holders and their spouses, even if their spouses’ names are not on the deed, they must attend closing to sign all sales documents.

There are 2 ways for NON-title-holding spouses to sign:
1. Most commonly, the non-title-holding spouse simply attends the closing and signs the few marital-rights documents. 
These include:
a) Mortgage – Sign this to say its OK for your spouse to use your house as collateral on the loan…and to acknowledge that the home could be foreclosed upon if the title-holding spouse does not pay the loan back.  This required signature is designed to prevent title-holding spouses form mortgaging up the home without the knowledge of the non-title-holding spouse.
b) Closing Disclosure – Discloses the costs of the loan.
c) A few standard disclosures that lenders and title companies are required to have you sign.
d) Non-title-holding spouses do NOT sign the promissory note; therefore, he/she is NOT responsible for repayment of the debt.
2. The 2nd way for non-title-holding spouses to sign is used only in rare situations where the non-title-holding spouse will be out of town, or is planning to be in the hospital or if he/she is in the midst of a nasty divorce with the title-holding spouse.  In these cases, we can have the non-title-holding spouse sign a “release of marital rights” document to avoid attending the closing to sign the marital-rights documents.

Yes, a title holding spouse must gain the consent of the non-title-holding spouse to get a mortgage or to sell.


2006 Kentucky Revised Statutes
Post 2017 legislative session*
Marital Rights – Dower and Curtesy
392.020 Surviving spouse’s interest in property of deceased spouse — “Dower” and “curtesy” defined.* After the death of the husband or wife intestate, the survivor shall have an estate in fee of one-half (1/2) of the surplus real estate of which the other spouse or anyone for the use of the other spouse, was seized of an estate in fee simple at the time of death, and shall have an estate for his or her life in one-third (1/3) of any real estate of which the other spouse or anyone for the use of the other spouse, was seized of an estate in fee simple during the coverture but not at the time of death, unless the survivor’s right to such interest has been barred, forfeited or relinquished. The survivor shall also have an absolute estate in one- half (1/2) of the surplus personalty left by the decedent. Unless the context otherwise requires, any reference in the statutes of this state to “dower” or “curtesy” shall be deemed to refer to the surviving spouse’s interest created by this section. Effective: July 1, 1956 History: Amended 1956 Ky. Acts ch. 117, sec. 2, effective July 1, 1956. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 2132.

386.095 Execution and delivery of releases of powers exercisable by deed, will or otherwise.*
(1) Any power which is exercisable by deed, by will, by deed or will, or otherwise, whether general or special, other than a power in trust which is imperative, is releasable by written instrument signed by the donee of the power and delivered as hereinafter provided. A power which is releasable may be released with respect to the whole or any part of the property subject to suchpower and may also be released in such manner as to reduce or limit the persons or objects, or classes of persons or objects, in whose favor such power would otherwise be exercisable. No release of a power shall be deemed to make imperative a power which was not imperative prior to such release, unless the instrument of release expressly so provides.
(2) Such release may be delivered to any of the following:
(a) Any person specified for such purpose in the instrument creating the power;
(b) Any trustee of the property to which the power relates;
(c) Any person, other than the donee of the power, who could be adversely affected by an exercise of the power; or
(d) The recorder of deeds of the county in which the donee of the power resides or has a place of business, or in which the deed, will or other instrument creating the power is recorded.  Effective:July 13, 1984  History: Amended 1984 Ky. Acts ch.111, sec.196, effective July 13, 1984. — Created 1944 Ky. Acts ch.14, sec.1.

*Disclaimer: These codes may not be the most recent version. Kentucky may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this document or the information linked to on the state site. Please check official sources.

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