Kentucky Auction and Auctioneer Laws

Kentucky Auction and Auctioneer Laws.
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Items 1 - 5 of 5

An Owner would have to pay an Auctioneer Reasonable Compensation for Services and Expenses Incurred in Preparing for Sale if s/he/it Withdraws his/her/its Property from an Auction Sale

The Kentucky Court of Appeals in Greer v. Arnold, 633 S.W.2d 75 (Ky. Ct. App. 1982) held that the breach of an auction sale contract, which does not include in the contract any language that the auctioneers have an exclusive right to sell the property, would have to be treated under general principles of damages for a breach of contract.  Therefore, in the event of breach of an auction contra...

A Contract for Sale of Real Estate is not Enforceable in Auction Sales where no Memoranda of Sale was Ever Executed with the By-bidder

The Kentucky Court of Appeals in Nicholson v. Clark, 802 S.W.2d 934 (Ky. Ct. App. 1990) held that a contract for sale of real estate is not enforceable if it does not satisfy the statute of fraud requirements.  In this case, the owner of the property filed an action to enforce an auction sale with the by-bidder (the highest bidder in the first auction sale). The Court in this case found that ...

Unclaimed Property in Safekeeping Repositories of the Kentucky Department of Treasury May be Disposed of by Public Auction

Administrative provision regarding public auction of unclaimed property in safe deposit boxes or other safe keeping repositories of the department.    Kentucky Administrative Regulations Title 20. DEPARTMENT OF TREASURY Chapter 1. State Treasury § 20 KAR 1:060. Unclaimed property; safe deposit boxes or other safekeeping repositories * * * (5) Property shall be secured in the d...

Kentucky Administrative Code on Board of Auctioneers

Kentucky Administrative regulation regarding advertisement, reciprocity requirement, real estate sale by auction, record keeping and accounting, apprenticeship residency requirements, maintaining a license while on active military duty and administrative fees for application and services are detailed below: Kentucky Administrative Regulations Title 201. GENERAL GOVERNMENT CABINET Chapter 3. Boa...

When Sale of Auction Lot Final Kentucky

Title XXIX. Commerce and Trade Chapter 355. Uniform Commercial Code (Refs & Annos) Article 2. Sales (Refs & Annos) Part 3. General Obligation and Construction of Contract 355.2-328 Sale by auction  (1) In a sale by auction if goods are put up in lots each lot is the subject of a separate sale. (2) A sale by auction is complete when the auctioneer so announces by the fall of the ...

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