Assignment of Personal Property
KRS 404.020 Property Rights: Contract Rights; Transfer of Personal Property Between Husband and Wife
This is a document that is rarely recorded, but it is important to record correctly if presented.
KRS 404.020 (2) A gift, transfer or assignment of personal property between husband and wife shall not be valid as to third persons, unless it is in writing, and acknowledged and recorded as chattel mortgages are required to be acknowledged and recorded; but the recording of any such writing shall not make valid any such gift, transfer or assignment that is fraudulent or voidable as to creditors or purchasers.
Note this statute indicates this document is to be recorded as a chattel mortgage, however it is not part of the Uniform Commercial Code. Since July 1, 2001 the county clerk does not file personal property liens. The next most logical place to record this document would be in the Land Records section of the county clerk. The document should appear in the General Index to Deeds and Mortgages.
The document must have the following:
- Name of the Husband (KRS 404.020)
- Name of the Wife (KRS 404.020)
- Written description of gift, transfer of assigned property (KRS 404.020)
- Signature of party that gave, transferred or assigned the property (KRS 404.020)
- Signature must be acknowledged (KRS 404.020)
- Preparation Statement (KRS 382.335)
The clerk shall request a return mail address (KRS 382.240)