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Rule V Master commissioner practice

Baldwin's Kentucky Revised Statutes Annotated42nd Judicial Circuit - Calloway and Marshall Circuit Court

Baldwin's Kentucky Revised Statutes Annotated
42nd Judicial Circuit - Calloway and Marshall Circuit Court
KY RCAC Rule V
Rule V Master commissioner practice
(A) References to Master Commissioner
Reference of cases shall be made to the Master Commissioner as provided by the Rules of Civil Procedure, by the Kentucky Revised Statutes, by these Rules, or by the court order in individual cases.
(B) Orders of Sale
1. Orders for the sale of property shall contain:
(a) A complete caption setting forth the names of all parties to be bound by the judicial sale. Abbreviations such as "etc." or "et al" shall not be used.
(b) A legal description of the property sought to be sold, together with the source of title of the present owner or owners.
(c) The address and the PVA map number of the property sought to be sold or, if it is true, a recitation of the fact that the property has no address.
(d) The dollar amount of the judgment of a day certain, together with the daily amount of accruing interest or contract rate of interest (if the order of sale is for the purpose of enforcing a judgment for money).
(e) The names of all parties who are in default.
2. Orders of sale may contain special conditions of sale, for example, such as property to be sold on site, specific combinations of property containing multiple tracts; special advertising in addition to advertising required by statute.
3. Orders of sale shall not contain:
(a) Specific dates on which the sale is to be conducted.
(b) Designations of the appraisers to be used by the Master Commissioner, provided, however, if a party knows of any reason that an appraiser should e disqualified to serve in a particular case, such disqualification may be made a part of the order of sale.
(c) Any requirement that the master commissioner take any action of any extraordinary nature unless a specific motion is made seeking such relief. Any such motion shall be made as a separate motion from any motion seeking an order of sale.
(C) Terms and Conditions of Sale
1. Unless otherwise ordered, all sales shall be conducted by the Commissioner in the Marshall/Calloway County Courthouse, upon the following terms and conditions:
(a) Before conducting a sale the Master Commissioner shall advertise in a newspaper, meeting the requirements of KRS 424.120, the time, terms and place of sale, together with a description of the property to be sold. The advertisement shall appear once a week for at least three consecutive weeks preceding the date of sale.
(b) When more than one sale is set for the same date, all such notices in any newspaper shall be advertised by the insertion of one single item with the general information applicable to each sale appearing only once and the cost of advertising such general information equally apportioned to the cost of the sale of the various cases to which applied.
2. If required by order or statute, the Master Commissioner before making a sale of real property shall have the property appraised by two intelligent, disinterested housekeepers of Marshall/Calloway County who are not related to any parties to the action. Before making appraisals, the appraisers shall be sworn. They shall retum their appraisals in writing to the Master Commissioner who shall file same as part of the record.
3. The property shall be sold to the highest bidder provided:
(a) At the time of sale the successful bidder shall either pay cash or make a deposit of the purchase price with the balance on credit for thirty (30) days. If the purchase price is not paid in full, the successful bidder shall be required to give bond with good surety for the unpaid purchase price. The bond shall bear interest at the rate of twelve (12%) percent per annum from the date of sale until paid.
(b) The purchaser shall be required to assume and pay all taxes or assessments upon the property for the current tax year and all subsequent years. All taxes or assessments upon the property for all prior years shall be paid from the sale proceeds if properly claimed, in writing and filed of record, by the purchaser prior to confirmation.
(c) The property shall otherwise be sold free and clear of any right, title or interest of all parties to the action and all liens and encumbrances thereon, excepting easements and restrictions of record in the Marshall/Calloway County Clerk's Office and such right of redemption as many exist in favor of the United States of America or the defendant(s).
(d) The terms and conditions hereinabove set out may be adopted by reference to this rule in the order of judgment directing the sale, or shall be restated therein.
(e) Prior to delivery of the deed to the successful bidder, if it is determined that the property is subject to liens or encumbrances thereon, excepting easements and restrictions of record in the Marshall/Calloway County Clerk's Office that are not otherwise extinguished in the Master Commissioner's Deed, the successful bidder may petition the Court for relief and the closing shall be extended until the motion is heard and a dispositive ruling is made by the Court.
4. A party, who is the successful purchaser of the property, may take credit against any judgment in that party's favor against the defendant property owner for the purchase price to the extent that the sale price is sufficient to pay such judgment considering the priorities and amounts previously adjudicated in the action.
D. Confirmation of Report of Sale
The Master Commissioner after making the sale shall report his actions to the Court. Ten (10) days after the filing of that report, if no objections have been filed thereto and without motion, the sale shall be deemed confirmed and an order confirming the sale shall be submitted to the Court. A copy of the order of confirmation shall be served upon the purchaser.
E. Fees of the Commissioner
The Commissioner shall be entitled to those fees set forth in Part IV of the Administrative Procedures of the Court of Justice.
F. Orders of Distribution
1. Orders requiring distribution of funds held by the Commissioner shall set forth all amounts collected, identify the proper recipient(s) and the specific amounts due each under the judgment or order.
2. If disbursements are to be made to taxing authorities, a copy of the pertinent tax bills(s) must be furnished to the Commissioner, giving the commissioners office sufficient time to pay the bill(s) with the amount(s) listed in the order.
G. Appraiser's Fee
1. In all residential sales where an appraisal is required, the fee of each appraiser shall be $100.00, unless otherwise ordered by the Court. Appraisal fees for commercial, farm and other sales shall be set by the court. The fee shall be paid from the proceeds of sale.
2. The appraisers are hereby required, under the direction of the Master Commissioner, as part of their duties to post, as required by the judgment of sale, upon or near the real estate to be sold thereunder, the written or printed notice of sale, advertising said sale.

Credits

HISTORY: Amended effective June 25, 2009; prior amendment effective May 28, 1998.
Calloway and Marshall Circuit Court Rule V, KY R CALLOWAY CIR CT Rule V
Current with amendments received through November 15, 2023. Some rules may be more current, see credits for details.
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