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OH HB9
Bill
Status
12/19/2014
Primary Sponsor
Peter Stautberg
Click for details
AI Summary
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Expands receiver powers to include entering into contracts (including sales, leases, and construction contracts), executing deeds and other conveyance documents, and opening deposit accounts, with all receiver expenses taxed as court costs.
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Establishes detailed procedures for receiver sales of real property including notice requirements, court approval, valuation evidence, public/private auction options, and owner redemption rights within a court-specified timeframe of at least three days.
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Allows courts to order real property sold free and clear of liens (except county tax liens), with liens transferring to sale proceeds in the same priority order.
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Specifies that natural gas and petroleum leases are interests in real estate and must be recorded in the lease record of the county recorder.
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Creates a Study Committee on Receivership Laws consisting of six legislators (three from House, three from Senate) to study Public Utilities Commission jurisdiction and federal Bankruptcy Code provisions, expiring at the end of the 131st General Assembly.
Legislative Description
To add to and clarify the powers of a receiver, to provide a procedure for a receiver's sale of property, to specify that a lease of natural gas and petroleum is an interest in real estate, and to establish a Study Committee on Receivership Laws to study matters related to receiverships and payment of public utility services.
Receivers-powers/procedure for real property sales
Last Action
Governor' Action
12/19/2014