The reaction γp→K⁎+Λ was measured using the CLAS detector for photon energies between the threshold and 3.9 GeV at the Thomas Jefferson National Accelerator Facility. For the first time, spin-density matrix elements have been extracted for this reaction. Differential cross sections, spin density matrix elements, and the Λ recoil polarization are compared with theoretical predictions using the BnGa partial wave analysis. The main result is the evidence for significant contributions from N(1895)1/2− and N(2100)1/2+ to the reaction. Branching ratios for decays into K⁎Λ for these resonances and further resonances are reported.