Ohio § 5301.93 Residential PACE lien priority

Ohio Statutes

§ 5301.93 — Residential PACE lien priority

Ohio § 5301.93

Title 53Real Property

Ch. 5301Conveyances; Encumbrances

This text of Ohio § 5301.93 (Residential PACE lien priority) 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. § 5301.93 (2026).

Text

(A)As used in this section:

(1)"PACE" means property assessed clean energy.

(2)"Qualifying residential real property" means a single family residential dwelling, or other residential dwelling of three or fewer units.

(3)"Residential PACE lien" means the encumbrance on the qualifying residential real property created by the special assessment for a residential PACE loan.

(4)"Residential PACE loan" means the extension of financing that is offered to pay for the installation of cost effective energy improvements on a homeowner's qualifying residential real property and is repayable by the homeowner through a special assessment under section717.25or Chapter 1710. of the Revised Code.

(B)Notwithstanding any provision of law to the contrary, a residential PACE lien shall be all of the

Free access — add to your briefcase to read the full text and ask questions with AI

(A) As used in this section:

(1) "PACE" means property assessed clean energy.

(2) "Qualifying residential real property" means a single family residential dwelling, or other residential dwelling of three or fewer units.

(3) "Residential PACE lien" means the encumbrance on the qualifying residential real property created by the special assessment for a residential PACE loan.

(4) "Residential PACE loan" means the extension of financing that is offered to pay for the installation of cost effective energy improvements on a homeowner's qualifying residential real property and is repayable by the homeowner through a special assessment under section717.25or Chapter 1710. of the Revised Code.

(B) Notwithstanding any provision of law to the contrary, a residential PACE lien shall be all of the following:

(1) Subordinate to all liens on the qualifying residential real property recorded prior to the time the residential PACE lien is recorded;

(2) Subordinate to a first mortgage on the qualifying property recorded after the residential PACE lien is recorded;

(3) Subject to division (B)(2) of this section, superior to any other lien on the qualifying residential real property recorded after the residential PACE lien is recorded.

(C) Notwithstanding any other law to the contrary, in the event of a foreclosure sale of a qualifying residential real property, the holders of any mortgages or other liens, including delinquent special assessments secured by residential PACE liens, shall receive proceeds in accordance with the priorities established under division (B) of this section.

Last updated February 24, 2023 at 1:57 PM