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OH HB390
Bill
Status
6/26/2024
Primary Sponsor
Richard Brown
Click for details
AI Summary
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Raises the minimum balance threshold for notifying judgment debtors of excess foreclosure sale funds from $500 to $1,500.
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Expands notification methods for excess funds to include web postings, text messages, and conspicuous courthouse postings in addition to traditional certified and ordinary mail.
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Changes the unclaimed funds holding period from 60 days to 90 days before excess funds are transferred to county treasury and delinquent tax collection funds.
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Allows court clerks to recover actual costs incurred in providing required notices before releasing excess funds to the judgment debtor or their legal representatives.
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Applies updated notification procedures and timelines consistently across execution sales (section 2329.44) and tax foreclosure sales (section 5721.20).
Legislative Description
Regards notice of excess funds in property foreclosure sales
Taxation
Last Action
Referred to committee: General Government
11/12/2024