This section does not apply to transfers of property without sale to a municipal corporation, township, county, community development organization, or county land reutilization corporation pursuant to the alternative redemption period procedures contained in section323.78of the Revised Code, except as provided in division (D) of that section.
When land is sold pursuant to a foreclosure proceeding as provided in this chapter or Chapter 323. of the Revised Code, both of the following apply:
(A)If the officer who makes the sale receives from the sale more money than is necessary to satisfy the writ of execution, with interest and costs, the officer who made the sale shall deliver any balance remaining after satisfying the writ of execution, with interest and costs, to the clerk of the cour
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This section does not apply to transfers of property without sale to a municipal corporation, township, county, community development organization, or county land reutilization corporation pursuant to the alternative redemption period procedures contained in section323.78of the Revised Code, except as provided in division (D) of that section.
When land is sold pursuant to a foreclosure proceeding as provided in this chapter or Chapter 323. of the Revised Code, both of the following apply:
(A) If the officer who makes the sale receives from the sale more money than is necessary to satisfy the writ of execution, with interest and costs, the officer who made the sale shall deliver any balance remaining after satisfying the writ of execution, with interest and costs, to the clerk of the court that issued the writ of execution not later than forty-five days after confirmation of sale;
(B) The clerk of the court that issued the writ of execution shall notify the owner of any residue of moneys from the sale or foreclosure of lands remaining to the owner on the order of distribution, in a manner consistent with division (A) of section2329.44of the Revised Code. Any residue of moneys from the sale or foreclosure of lands remaining to the owner and unclaimed by such owner within ninety days from the day the final notice is provided in accordance with division (A) of section2329.44of the Revised Code, shall be paid into the county treasury and shall be charged separately to the county treasurer by the county auditor, in the name of the supposed owner. The treasurer shall retain such excess in the treasury for the proper owner of such lands upon which the foreclosure was had, and upon demand by such owner, within three years from the date of receipt, shall pay such excess to the owner. If the owner does not demand payment of the excess within three years, then the excess shall be forfeited to the delinquent tax and assessment collection fund created under section321.261of the Revised Code, or in counties that have established a county land reutilization corporation fund under section321.263of the Revised Code, to the county land reutilization corporation fund.
Last updated February 21, 2025 at 11:59 AM