Branstetter, 020918 KYAGO, OAG 18-2

Case DateFebruary 09, 2018
CourtKentucky
Bob Branstetter
AGO OAG 18-2   
No. OAG 18-002
Kentucky Attorney General Opinion
Commonwealth of Kentucky Office of the Attorney General
February 9, 2018
         Subject: Whether the "consideration statement" requirement for deeds is enforceable.          Requested by: Bob Branstetter Warren County Property Valuation Administrator          Written by: Marc G. Farris          Syllabus: Kentucky law prohibits "willfully and fraudulently" making a false statement in a deed as to the consideration paid for property, and provides that doing so is a Class D felony.          Statutes construed: KRS 382.135; KRS 382.990           OPINION OF THE ATTORNEY GENERAL          You have asked about the enforceability of the statutory requirement that deeds accurately recite the consideration paid for property. We understand from your letter that certain grantees have claimed that the consideration reflected on the deed is greater than the actual consideration paid for the property. As explained more fully below, Kentucky law prohibits "willfully and fraudulently" making a false statement as to the consideration of property, and provides that doing so is a Class D felony.          KRS 382.135(1) sets forth the consideration requirement for deeds:          In addition to any other requirement imposed by law, a deed to real property shall contain the following:
(c) A statement of the full consideration;
[...]
(e) 1. In the case of a transfer other than by gift, or with nominal or no consideration a sworn, notarized certificate signed by the grantor or his or her agent and the grantee or his or her agent, or the parent or guardian of a person under eighteen (18) years old, that the consideration reflected in the deed is the full consideration paid for the property; or
2. In the case of a transfer either by gift or with nominal or no consideration, a sworn, notarized certificate signed by the grantor or his or her agent and the grantee or his or her agent, or the parent or guardian of a person under eighteen (18) years old, stating that the transfer is by gift
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