HB212 - Ohio Property Protection Act Summary

• Prohibits foreign adversaries and certain foreign-controlled businesses from purchasing or acquiring real property in Ohio, with transfers made in violation being void.

• Requires grantees and grantors to affirm compliance with property ownership restrictions in real property transfer statements submitted to county auditors before conveyance endorsement.

• Mandates county prosecutors to investigate alleged violations and empowers courts to order divestment within six months, with civil penalties up to $25,000 and property escheat to the state for non-compliance.

• Establishes a 36-month divestment period for foreign adversaries and businesses already holding Ohio real property as of the effective date, with limited exceptions for certain long-established foreign businesses approved by federal committees.

• Amends sections 319.202, 2105.16, and 5323.02 of the Revised Code and enacts new section 5301.256 to implement these property ownership restrictions.