Ky. Rev. Stat. » Chapter 140
Kentucky Revised Statutes

Ky. Rev. Stat. § 140.050 (2026)

Taxation of surviving owner of a joint interest

✓ current as of May 2026
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Whenever any real or personal property is held jointly in the names of two (2) or more persons, or as tenants by the entirety, or is deposited in banks or other depositories jointly in the names of two (2) or more persons and is payable to either or to the survivor upon the death of the other, the right of the surviving tenant by the entirety or the surviving joint tenant or joint depositor to the immediate ownership or possession and enjoyment of the property shall be deemed a transfer of one-half (1/2) or other proper fraction thereof, taxable under the provisions of this chapter in the same manner as though the part of the property to which the transfer relates belonged to the tenants by the entirety, joint tenants or joint depositors as tenants in common, and had been bequeathed or devised to the surviving tenant by the entirety, joint tenant or joint depositor by the deceased tenant by the entirety, joint tenant or joint depositor. Effective: October 1, 1942 History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4281a-15.

Notes of Decisions
Cited in 2 cases, 1987–1988 · leading case: Revenue Cabinet, Com. of Ky. v. Samani, 757 S.W.2d 199 (Ky. Ct. App. 1988).
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Revenue Cabinet, Com. of Ky. v. Samani, 757 S.W.2d 199 (Ky. Ct. App. 1988). · cites it 3× “McDONALD, Judge: The within action was filed in the circuit court for declaratory judgment challenging the application of the Kentucky Inheritance Tax (KRS 140.050) upon the survivorship assets comprising a portion of the estates of the appellees, Fred Samani and Willett Rush,…”
Revenue Cabinet v. Cox, 738 S.W.2d 114 (Ky. Ct. App. 1987). · cites it 2× “KRS 140.050 provides that the death of one party to a survivorship account “shall be deemed a transfer of one-half (¾⅛) or other proper fraction .”
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