Ohio § 2109.48 Amount of loan

Ohio Statutes

§ 2109.48 — Amount of loan

Ohio § 2109.48

Title 21Courts-Probate-Juvenile

Ch. 2109Fiduciaries

This text of Ohio § 2109.48 (Amount of loan) is published on Counsel Stack Legal Research, covering Ohio primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ohio Rev. Code Ann. § 2109.48 (2026).

Text

If on the final hearing of a fiduciary's  complaint to borrow money and mortgage real property belonging to  the trust it appears to be for the best interests of the trust  that the prayer of the complaint be granted, the probate court  shall fix the amount necessary to be borrowed, direct what real  property shall be encumbered by mortgage to secure that amount,  and issue an order to the fiduciary directing the fiduciary to  ascertain and report to the court the rate of interest and the  length of time for which the fiduciary can borrow that amount.

If the report of the fiduciary and the terms proposed are  satisfactory to the court, they may be accepted and confirmed and  the fiduciary ordered, as fiduciary, to execute a note for the  amount to be borrowed and a mortgage on the real pr

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If on the final hearing of a fiduciary's complaint to borrow money and mortgage real property belonging to the trust it appears to be for the best interests of the trust that the prayer of the complaint be granted, the probate court shall fix the amount necessary to be borrowed, direct what real property shall be encumbered by mortgage to secure that amount, and issue an order to the fiduciary directing the fiduciary to ascertain and report to the court the rate of interest and the length of time for which the fiduciary can borrow that amount.

If the report of the fiduciary and the terms proposed are satisfactory to the court, they may be accepted and confirmed and the fiduciary ordered, as fiduciary, to execute a note for the amount to be borrowed and a mortgage on the real property so designated, which shall be a valid lien on the property. The fiduciary in no way shall be personally liable for the payment of any part of the sum borrowed, but the mortgaged real property alone shall be bound for its payment. The court shall direct the distribution of the fund and the fiduciary shall report to the court, for its approval, the execution of the notes and mortgage and the fiduciary's distribution of the fund.