Deed of Correction
A deed of correction may be prepared to clear up a defect in title or to correct a mistake.
An example may be the number of acres, or a source of title. A deed of correction does not convey interest in land. It is important to note that the original grantor and grantee must be the same in a deed of correction. One cannot add, remove or change a grantor or grantee in a deed of correction. If the deed includes any other parties it is NOT a deed of correction.
Recording of deeds, KRS 382.110
The document must have:
- Full names of grantor & grantee (KRS 382.135 (1)(a)) Effective 7-15-2016
- First party (seller, grantor) and their mailing address (KRS 382.135, KRS 382.200)
- Second party (buyer, grantee) and their mailing address (KRS 382.135, KRS 382.200)
- Legal description (Common Law) and OAG 81-100
- Source of title (KRS 382.110)
- Preparation Statement (KRS 382.335)
- Return mail address (KRS 382.335 & KRS 382.240)
The document must state that it is a deed of correction and must refer to the deed it is correcting.
A deed of correction does not require a Consideration Certificate if the deed corrects errors in previous deed conveying the same property from the same grantor to the same grantee.(KRS 382.135(2)(e).
A deed of correction does not require an In Care Of Tax Address if the deed corrects errors in previous deed conveying the same property from the same grantor to the same grantee.(KRS 382.135).
The grantor must sign the deed and the signatures must be acknowledged (notarized). (KRS 382.130) The document must be filed in the county clerk's office of the county where the property is located (or the greater part). KRS 382.110.
Transfer tax would only be collected if the consideration amount has been changed. Transfer tax is collected on the consideration in the deed per KRS 142.050. If the consideration has changed a Consideration Certificate is required and the grantor and grantee must sign with signatures notarized.