# KRS § 140.050: 140.050 Taxation of surviving owner of a joint interest

> Kentucky · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C140_S140.050

## Section

- **Citation:** KRS § 140.050
- **Heading:** 140.050 Taxation of surviving owner of a joint interest
- **Jurisdiction:** Kentucky
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** KY Code / Title XI / Chapter 140 / Section 140.050

## Text

140.050 Taxation of surviving owner of a joint interest.

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.

## Nearby sections

- [KRS § 140.010 140.010 Levy of inheritance tax -- Property affected -- When tax attaches](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C140_S140.010.md)
- [KRS § 140.015 140.015 Exemption of benefits from federal government arising out of military service](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C140_S140.015.md)
- [KRS § 140.020 140.020 Taxation of transfers made in contemplation of death -- Revocable trusts -- Presumption of contemplation -- When presumption does not apply](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C140_S140.020.md)
- [KRS § 140.030 140.030 Taxation of contracts in contemplation of death -- Proceeds of life insurance policies -- Exemptions](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C140_S140.030.md)
- [KRS § 140.040 140.040 Taxation of transfers by power of appointment -- When transfer deemed to take place -- Date as of which value of property determined -- Remainder interests -- Rates and exemptions](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C140_S140.040.md)
- [KRS § 140.050 140.050 Taxation of surviving owner of a joint interest](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C140_S140.050.md)
- [KRS § 140.060 140.060 Exemption of transfers to educational, religious and charitable institutions, and to cities and public institutions](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C140_S140.060.md)
- [KRS § 140.063 140.063 Exemption of annuities or other payments under employees' trusts -- Retirement annuities -- Individual retirement bonds, accounts, and annuities](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C140_S140.063.md)
- [KRS § 140.070 140.070 Inheritance tax rates](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C140_S140.070.md)
- [KRS § 140.080 140.080 Exemptions of inheritable interests](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C140_S140.080.md)
- [KRS § 140.090 140.090 Deductions allowed from distributive shares](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C140_S140.090.md)
- [KRS § 140.095 140.095 Credit in case same property passes again within five years](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C140_S140.095.md)
- [KRS § 140.100 140.100 Valuation of future and contingent estates -- Taxation of life estates -- Valuation of surviving spouse's interest in trust or life estate](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C140_S140.100.md)
- [KRS § 140.110 140.110 Taxation of contingent and defeasible estates](https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C140_S140.110.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_KY_TXI_C140_S140.050. Check the current official text before relying on it. Not legal advice.