KY HB331

Purchasers of previously occupied residential property at master commissioner's sales must begin renovation within 6 months and return the property to occupancy within 18 months of obtaining title

"State of occupancy" is defined as actual occupancy by the purchaser or lessee, or actively marketing the property for sale or rent with prominent signage and good-faith pricing

Noncompliance results in a $100 per day fine payable to the local government and may trigger a court-ordered sale of the property under KRS 426.205

Requirements only apply to residential property in counties with a land bank authority established under KRS 65.210 to 65.375

Exemptions exist for vacant lots, properties too deteriorated to occupy, properties with existing leases (up to 11 additional months), and properties subject to the 6-month redemption period under KRS 426.530