Real Estate Law Blog

Considering a Conservation Easement? Here’s What You Should Know

Ever looked at a piece of your property and thought, “I wish it could stay like this forever”? If so, you may be in luck, because a conservation easement will protect certain types of property in perpetuity, and there may just be a tax incentive to do so thrown in for good measure. As with any type of property transaction, there are plenty of considerations that should factor into the decision to create a conservation easement, and some of the most important ones are outlined below. More >

Fractional Investment in Real Estate: What is It?

Not everyone has the investment resources of a certain real estate tycoon turned president, and that has often served as a bar to participation. In modern times, as real estate projects seek more and more investment, the solution has been to expand the class of those able to invest, bringing in new capital from investors who might not, as individuals, have the means to invest in high-end real estate. Enter fractional ownership of real estate – smaller investments from larger numbers of investors. This vehicle for investment can make the dream of serious real estate investment a reality. More >

Kentucky Legislature Tweaks "Full Name" Requirement on Deeds Yet Again

For the third year in a row, the Kentucky legislature has tweaked KRS 382.135, once more revising the “full name” requirement on a deed.

Prior to 2016, KRS 382.135 did not explicitly require a name on a deed for real property. The Kentucky legislature changed KRS 382.135(1) to include that a deed must contain “the full name of the grantor and grantee” of the property. Here, the problem is that the legislature failed to define “full name” for individuals or businesses, which caused confusion for both. Kentucky’s Attorney General subsequently produced an opinion, OAG 16-006, that the “full name” of an individual means, at minimum, that individual’s surname and “some combination of a personal name or initials.” The AG completely sidestepped the issue of business names, and this opinion on individual names isn’t binding in Kentucky courts anyway. More >

I Love It When a Comprehensive Plan Comes Together

It’s that time again – Lexington has been and remains busy assembling its 2018 Comprehensive Plan, titled “Imagine Lexington,” which will provide guidance on how the city will regulate land use over the next five years. This is a complex process that takes place in two phases. The recently concluded Phase I has already set out the goals and objectives of the plan, which we’ll examine in this blog post. The next phase, Elements and Implementation, may take the remainder of 2018 to hash out, although the Planning Commission suggests it will draft it through the summer. This plan is not just mandated by law; it helps mold a vision for the community of how it handles growth and expansion, which will shape the city for decades to come. More >