Ohio § 4733.306 Substitution of financial security for lien

Ohio Statutes

§ 4733.306 — Substitution of financial security for lien

Ohio § 4733.306

Title 47Occupations-Professions

Ch. 4733Professional Engineers and Professional Surveyors

This text of Ohio § 4733.306 (Substitution of financial security for lien) 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. § 4733.306 (2026).

Text

(A)Any person with an interest in commercial real estate on which a lien has been perfected pursuant to section4733.302of the Revised Code, or named in the affidavit required under that section, may apply to the common pleas court of the county in which the commercial real estate is located to substitute financial security for the lien.

(B)The substitute security shall be in the amount equal to the professional engineer or professional surveyor's claim, and in a form such as an escrow account or surety bond held by the clerk of courts or other party as determined adequate by the court.

(C)The court, in its entry approving the substitute security, shall direct the release of the lien.

(D)(1) The person substituting the security shall file the entry and release for recording in the off

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(A) Any person with an interest in commercial real estate on which a lien has been perfected pursuant to section4733.302of the Revised Code, or named in the affidavit required under that section, may apply to the common pleas court of the county in which the commercial real estate is located to substitute financial security for the lien.

(B) The substitute security shall be in the amount equal to the professional engineer or professional surveyor's claim, and in a form such as an escrow account or surety bond held by the clerk of courts or other party as determined adequate by the court.

(C) The court, in its entry approving the substitute security, shall direct the release of the lien.

(D)(1) The person substituting the security shall file the entry and release for recording in the office of the county recorder of the county in which the commercial real estate is located.

(2) The county recorder shall record the entry and release and charge and collect from the person filing the entry and release for recording the fees set forth in section317.32of the Revised Code for the recorder's services.

Last updated July 14, 2021 at 12:52 PM