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OH HB181
Bill
Status
3/30/2011
Primary Sponsor
Ted Celeste
Click for details
AI Summary
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Requires landlords to notify tenants within 60 days after a foreclosure action is filed and provide at least 21 days' written notice before the foreclosure sale date, time, and place.
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Mandates that any rental agreement for a residential property sold through foreclosure automatically converts to a month-to-month agreement when the court confirms the sale.
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Requires the previous property owner to transfer all tenant security deposits to the new owner (successor in interest) within 7 days of foreclosure sale confirmation.
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Allows tenants and the new owner to mutually agree to continue the original rental agreement instead of converting to month-to-month.
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Permits tenants to recover actual damages, one month's rent plus security deposit amount, attorney's fees, or injunctive relief if landlords fail to honor rental agreements or provide required foreclosure notices.
Legislative Description
To require that notice of foreclosure and related sale of residential rental property be given to tenants at that property and to specify that a rental agreement for a residential property that is sold pursuant to a foreclosure action converts to a month-to-month rental agreement.
Renters-notice of foreclosure & sale/convert to month-to-month tenancy
Last Action
To Financial Institutions, Housing & Urban Development
3/30/2011