The Ohio General Assembly is considering significant changes to Ohio’s receivership laws, that would, among other things, authorize a receiver’s sale of real estate free and clear of liens without a foreclosure proceeding. The proposed changes, introduced in the now-expired term of the 129th General Assembly and reintroduced in the 130th General Assembly, represent the most significant changes in decades.
Ohio Senate Bill 388, introduced to the 129th General Assembly on November 13, 2012, proposed amendments to Sections 2333.22, 2715.21, 2735.02, and 2735.04 of the Ohio Revised Code to add to and clarify the powers of a court-appointed receiver and provide new procedures for the sale of real property by a receiver free and clear of existing liens, claims and interests. Senate Bill 388 did not make it out of the judiciary committee prior to the expiration of the 129th General Assembly’s term.