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Rule 9 Judicial sales

Baldwin's Kentucky Revised Statutes Annotated9th Judicial Circuit - Hardin Circuit Court

Baldwin's Kentucky Revised Statutes Annotated
9th Judicial Circuit - Hardin Circuit Court
KY RHAR Rule 9
Rule 9 Judicial sales
Currentness
9.01. Referral to the Master Commissioner
Referral of judicial sales to the Master Commissioner shall be as provided by the Administrative Procedures of the Court of Justice (AP) Part IV, the Rules of Civil Procedure, the Kentucky Revised Statutes, these Rules, or by court order in individual cases. The order shall specifically indicate the purpose of the referral and the duties to be performed by the Master Commissioner.
9.02. Motions for Judgment and Order of Sale
Every motion for default or summary judgment and order of sale shall be accompanied by a tendered judgment and order of sale, which shall include, but not be limited to, the following information:
(1) A statement of the manner by which this court has acquired jurisdiction over the parties to the action. For each defendant in the suit, the tendered judgment shall state:
“The Defendant. (Name) is before this Court by means of (Type of Service) (i.e., personal, warning order, long-arm. etc.), which service was accomplished on (Date).”
(2) The legal description, the street address, and the Property Valuation Administrator property ID number of the property to be sold.
(3) An order of sale, which reads as follows:
“The Master Commissioner of this court is hereby directed to sell the real estate described in the Judgment at public auction to the highest bidder at a time and place designated by the Master Commissioner after first having caused the property to be appraised according to law; and having advertised the sale as to the lime, terms, and place by posting printed handbills at the courthouse and on or near the property to be sold for at least fifteen (15) days prior to the date of sale. Notice as to its time, terms, and place of sale together with a street address (or a brief description of its location, if the property has no street address) and the property's PVA ID number shall be published once a week for three successive weeks next preceding the date of sale in the daily newspaper of the largest circulation published in Hardin County, Kentucky. The real estate shall be sold on terms of 10% down and the balance on a credit of thirty (30) days, bearing judgment interest from date of sale until the purchase price is paid.”
(4) A certificate that a copy of the tendered judgment and order of sale was served on the Master Commissioner at the time the motion is filed.
9.03. Taxes
Unless specifically stated otherwise in the order or judgment, taxes shall be paid in the following manner:
(1) If property is purchased by a plaintiff, taxes are to be paid directly and not through the office of the Master Commissioner. Proof of payment shall be provided to the Master Commissioner, and the purchaser shall not receive credit for taxes paid upon the purchase price.
(2) If property is purchased by a third party, delinquent tax payoffs will be obtained by the Master Commissioner and paid out of the proceeds of the sale, for which the purchaser shall not receive credit upon the purchase price.
9.04. Conduct of Sale
(1) Deposit and Bond Requirements--Resale Upon failure to Comply and Credit against Judgment.
A. In every judicial sale, except where the order of sale directs otherwise, the cash deposit specified in the order or judgment of sale shall be made immediately upon the completion of the bidding. If a bond is required by the judgment or order of sale, the successful bidder must be ready to comply immediately with the terms of that bond, including having a surety available to sign the bond immediately upon the conclusion of the sale.
B. If the deposit, bond, or surety requirements are not complied with immediately upon the conclusion of the bidding, the Master Commissioner may reject the bid and resell the property immediately. In making such resale, the Master Commissioner shall accept no bid from the rejected bidder.
C. A party who is the successful purchaser of the property may take credit against any judgment in that party's favor against property owner for the required deposit and 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.
(2) Interest--Accrual of interest on the successful bid shall be suspended to the extent of any payment or deposit as of the date either is made to the Master Commissioner.
9.05. Commissioner's Report, Order of Confirmation, and Delivery of Deed
(1) The Master Commissioner shall file a report of sale with the Clerk no later than three business days after the date of sale pursuant to AP Part IV. Sec. 5. The Clerk shall immediately immediatelyNEW 1 serve notice of the filing upon all parties who would be entitled to notice of entry of a final judgment.
(2) Within ten (10) days after being served with notice of the filing of the report, any party may serve written objections or exceptions thereto upon the other parties. If no objections or exceptions are filed, the report will be automatically submitted to the presiding judge on the eleventh day after the notice of the report was served on the parties. If objections or exceptions are filed, any party may apply to the court for confirmation of the report by motion and pursuant to notice as described in HCR 6.03. If no objections or exceptions are filed, the court will sign an order of confirmation submitted directly to the court without notice and motion. All orders of confirmation shall be tendered by the Master Commissioner.
(3) Delivery of Deed. If the plaintiff is the purchaser of the property, the plaintiff shall prepare and tender the deed to the Master Commissioner. The Master Commissioner shall prepare all deeds for third-party purchasers. The deed must contain at least the following:
A. The name of all parties whose interests are being conveyed:
B. The name and address of the purchaser:
C. The stated consideration:
D. The legal description of the property:
E. The owner's source of title:
F. A blank for the insertion of the date that the sale was confirmed by the court:
G. A statement that the Master Commissioner does not bind himself personally by anything in the deed: and
H. All other legal requirements of a deed including applicable jurat and scrivener provisions.
(4) The master commissioner shall execute and deliver the deed to the purchaser of the properly no later than five business days after the court has confirmed the sale and approved the deed and all costs, fees, and other required amounts due and owing, if any, have been paid by the foreclosing mortgagee or lienholder or the purchase price has been paid in full by the third party purchaser.
9.06. Assignment of Bid
If the purchaser at a judicial sale desires to assign the bid to a third party, then this assignment shall be tendered to the Clerk for filing. The purchaser shall provide a copy of the assignment to the Master Commissioner.
9.07. Appraiser Fees
In all sales where an appraisal is required, the fee of each appraiser shall be $100.00 unless otherwise ordered by the court. Upon good cause shown, the Chief Judge may from time to time modify the appraiser fee.
9.08. Commissioner's Fees
The Master Commissioner shall be entitled to those fees set forth in the Administrative Procedures of the Court of Justice. Part IV.

Credits

HISTORY: Amended effective May 5, 2017. Prior amendments effective January 1, 2014; March 6, 2007.

Footnotes

NEW 1
So in original.
Hardin Circuit Court Rule 9, KY R HARDIN CIR CT Rule 9
Current with amendments received through November 15, 2023. Some rules may be more current, see credits for details.
End of Document