Kentucky HB347 mandates renovation and occupancy of residential properties purchased at a master commissioner's sale.
Kentucky HB347 establishes requirements for the renovation and occupancy of residential properties bought at a master commissioner's sale. The bill mandates that purchasers begin renovation within six months of obtaining title and return the property to a state of occupancy within eighteen months. A state of occupancy is defined as actual occupancy by the purchaser or a lessee, or active marketing for sale or rent. The bill also outlines penalties for non-compliance, including fines and potential property sale orders. Exemptions apply to vacant lots and severely deteriorated properties.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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