Kentucky HB566 amends judicial sale procedures, setting auctioneer fees and advertising costs.

Kentucky HB566 modifies the rules for judicial sales, specifying that auctioneer fees for foreclosure sales of real property should not exceed ten percent of the sale price, and for personal property, not more than twenty-five percent. The bill also allows for an additional auction premium of up to ten percent for personal property sales. Advertising costs for sales under a master commissioner's direction are to be paid from the sale proceeds. The sale of real property must occur on the property site, though it can be moved to another location in the county if deemed best by the auctioneer.

Kentucky HB566 amends judicial sale procedures, setting auctioneer fees and advertising costs.

Kentucky HB566 modifies the rules for judicial sales, specifying that auctioneer fees for foreclosure sales of real property should not exceed ten percent of the sale price, and for personal property, not more than twenty-five percent. The bill also allows for an additional auction premium of up to ten percent for personal property sales. Advertising costs for sales under a master commissioner's direction are to be paid from the sale proceeds. The sale of real property must occur on the property site, though it can be moved to another location in the county if deemed best by the auctioneer.