411.510 Definitions for KRS 411.500 to 411.570. As used in KRS 411.500 to 411.570: (1) (2) (3) (4) (5) (6) (7) (8) "Claimant" means a person who asserts a claim of private nuisance. "Fair market value" means the price that a person who is willing but not compelled to buy would pay and a seller who is willing but not compelled to sell would accept for property. "Fair rental value" means the price a lessee who is willing but not compelled to lease would pay and a lessor who is willing but not compelled to lease would accept. "Ownership interest" means holding legal or equitable title to property in fee or in a life tenancy. "Defendant" means a person against whom a claim of private nuisance is asserted. "Possessory interest" means lawfully possessing property but does not include mere occupancy. "Property" means real property. "Value of use" means the value to a person of using property. Effective: May 24, 1991 History: Created 1991 (1st Extra. Sess.) Ky. Acts ch. 11, Sec. 2, effective May 24, 1991.
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