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Revised Ohio Receivership Statute Brings Clarity for Lenders and Prospective Foreclosure Sale Purchasers

On March 23, 2015, Ohio’s recently enacted amendments to the receivership statute will go into effect, creating certainty and consistency for various existing receivership practices previously developed and used by Ohio courts.  The revised receivership law amends, among other things, certain sections of Ohio Revised Code Chapter 2735 – Receiverships, including sections 2735.01 (Appointment of Receiver), 2735.02 (Qualifications of Receiver) and 2735.04 (Powers of Receiver).

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TAGS: Lenders, Receivership Statute

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