SB 135: Regards real property foreclosures and estate sales

The bill aims to modify the process of selling real estate in Ohio to satisfy judgments and debts. The sale price of real property sold following an action by an executor, administrator, or guardian shall be applied as follows: The costs and expenses of the sale, including reasonable fees, shall be paid first, followed by the payment of taxes, interest, penalties, and assessments, and then the payment of mortgages and judgments. The remaining proceeds of the sale shall be applied to the payment of legacies, if applicable, and then to the discharge of claims and debts of the estate. In public auctions of goods, chattels, or lands, the sale shall be conducted personally by an officer of the court, a licensed auctioneer, or a private selling officer who is not affiliated with a mortgagee or mortgage servicer. The judgment creditor may elect to have the real estate sold by a private selling…