OAG 79-163 is cited to clarify the legal position regarding the ownership of real property by companies incorporated in the United States, even if the shares are owned by aliens. It explains that such property is not subject to escheat provisions under KRS 381.290-381.340, and can be held indefinitely by the corporation, as the alien essentially owns personal property (stock) rather than real property.
OAG 79-163 was Cited by OAG 81-248
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Disclaimer:
The Sunshine Law Library is not exhaustive and may contain errors from source documents or the import process. Nothing on this website should be taken as legal advice. It is always best to consult with primary sources and appropriate counsel before taking any action.
The Sunshine Law Library is not exhaustive and may contain errors from source documents or the import process. Nothing on this website should be taken as legal advice. It is always best to consult with primary sources and appropriate counsel before taking any action.