Section 411.510 - Definitions for KRS 411.500 to 411.570As used in KRS 411.500 to 411.570:
(1) "Claimant" means a person who asserts a claim of private nuisance.(2) "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.(3) "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.(4) "Ownership interest" means holding legal or equitable title to property in fee or in a life tenancy.(5) "Defendant" means a person against whom a claim of private nuisance is asserted.(6) "Possessory interest" means lawfully possessing property but does not include mere occupancy.(7) "Property" means real property.(8) "Value of use" means the value to a person of using property.Effective:5/24/1991 Created 1991 (1st Extra. Sess.) Ky. Acts ch. 11, Sec. 2, effective5/24/1991.