To amend sections 169.02, 323.25, 323.31, 5721.01, 5721.03, 5721.06, and 5721.10 and to enact sections 1109.65 and 5721.30 to 5721.40 of the Revised Code to permit county treasurers of the counties having populations of at least two hundred thousand to collect delinquent real property taxes by selling certificates entitling the bearers to liens against the property in the amount of the delinquency.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:

Sec. 169.02. Subject to division (B) of section 169.01 of the Revised Code, the following constitute unclaimed funds:

(A) Any demand, savings, or matured time deposit account, or matured certificate of deposit, together with any interest or dividend on it, less any lawful claims, which is held or owed by a holder which is a financial organization, unclaimed for a period of five years;

(B) Any funds paid toward the purchase of withdrawable shares or other interest in a financial organization, and any interest or dividends on them, less any lawful claims, which is held or owed by a holder which is a financial organization, unclaimed for a period of five years;

(C) Except as provided in division (A) of section 3903.45 of the Revised Code, moneys held or owed by a holder, including a fraternal association, providing life insurance, including annuity or endowment coverage, unclaimed for five years after becoming payable as established from the records of such holder under any life or endowment insurance policy or annuity contract which has matured or terminated. An insurance policy, the proceeds of which are payable on the death of the insured, not matured by proof of death of the insured is deemed matured and the proceeds payable if such policy was in force when the insured attained the limiting age under the mortality table on which the reserve is based.

Moneys otherwise payable according to the records of such holder are deemed payable although the policy or contract has not been surrendered as required.

(D) Any deposit made to secure payment or any sum paid in advance for utility services of a public utility and any amount refundable from rates or charges collected by a public utility for utility services held or owed by a holder, less any lawful claims, that has remained unclaimed for five years after the termination of the services for which the deposit or advance payment was made or five years from the date the refund was payable, whichever is earlier;

(E) Any certificates, securities as defined in section 1707.01 of the Revised Code, nonwithdrawable shares, other instruments evidencing ownership, or rights to them or funds paid toward the purchase of them, or any dividend, capital credit, profit, distribution, interest, or payment on principal or other sum, held or owed by a holder, including funds deposited with a fiscal agent or fiduciary for payment of them, unclaimed for five years, except, in the case of instruments representing an ownership interest, unclaimed for seven years.

This division shall not prejudice the rights of fiscal agents or fiduciaries for payment to return the items described in this division to their principals, according to the terms of an agency or fiduciary agreement, but such a return shall constitute the principal as the holder of the items and shall not interrupt the period for computing the time for which the items have remained unclaimed.

In the case of any such funds accruing and held or owed by a corporation under division (E) of section 1701.24 of the Revised Code, such corporation shall comply with this chapter, subject to the limitation contained in section 1701.34 of the Revised Code. The period of time for which such funds have gone unclaimed specified in section 1701.34 of the Revised Code shall be computed, with respect to dividends or distributions, commencing as of the dates when such dividends or distributions would have been payable to the shareholder had such shareholder surrendered his THE certificates for cancellation and exchange by the date specified in the order relating to them.

Capital credits of a cooperative which after January 1, 1972, have been allocated to members and which by agreement are expressly required to be paid if claimed after death of the owner are deemed payable, for the purpose of this chapter, fifteen years after either the termination of service by the cooperative to the owner or upon the nonactivity as provided in division (B) of section 169.01 of the Revised Code, whichever occurs later, provided that this provision does not apply if the payment is not mandatory.

(F) Any sum payable on certified checks or other written instruments certified or issued and representing funds held or owed by a holder, less any lawful claims, that are unclaimed for five years, except, in the case of money orders which are not third party bank checks, that are unclaimed for seven years, and in the case of traveler's checks, that are unclaimed for fifteen years, from the date payable, or from the date of issuance if payable on demand.

As used in this division, "written instruments" include, but are not limited to, certified checks, cashier's checks, bills of exchange, letters of credit, drafts, money orders, and traveler's checks.

If there is no address of record for the owner or other person entitled to the funds, such address is presumed to be the address where the instrument was certified or issued.

(G) All moneys, rights to moneys, or other intangible property, arising out of the business of engaging in the purchase or sale of securities, or otherwise dealing in intangibles, less any lawful claims, which are held or owed by a holder and which are unclaimed for five years from the date of transaction.

(H) Except as provided in division (A) of section 3903.45 of the Revised Code, all moneys, rights to moneys, and other intangible property distributable in the course of dissolution or liquidation of a holder that are unclaimed for one year after the date set by the holder for distribution;

(I) All moneys, rights to moneys, or other intangible property removed from a safe-deposit box or other safekeeping repository located in this state or removed from a safe-deposit box or other safekeeping repository of a holder, on which the lease or rental period has expired, or any amount arising from the sale of such property, less any lawful claims, that are unclaimed for five years from the date on which the lease or rental period expired;

(J) Subject to division (M)(2) of this section, all moneys, rights to moneys, or other intangible property, and any income or increment on them, held or owed by a holder which is a fiduciary for the benefit of another, or a fiduciary or custodian of a qualified retirement plan or individual retirement arrangement under section 401 or 408 of the Internal Revenue Code, unclaimed for five years after the final date for distribution;

(K) All moneys, rights to moneys, or other intangible property held or owed in this state or held for or owed to an owner whose last known address is within this state, by the United States government or any state, as those terms are described in division (E) of section 169.01 of the Revised Code, unclaimed by the owner for five years, excluding any property in the control of any court in a proceeding in which a final adjudication has not been made;

(L) Amounts payable pursuant to the terms of any policy of insurance, other than life insurance, or any refund available under such a policy, held or owed by any holder, unclaimed for five years from the date payable or distributable;

(M)(1) Subject to division (M)(2) of this section, any funds constituting rents or lease payments due, any deposit made to secure payment of rents or leases, or any sum paid in advance for rents, leases, possible damage to property, unused services, performance requirements, or any other purpose, held or owed by a holder unclaimed for five years;

(2) Any escrow funds, security deposits, or other moneys that are received by a licensed broker in a fiduciary capacity and that, pursuant to division (A)(26) of section 4735.18 of the Revised Code, are required to be deposited into and maintained in a special or trust, noninterest-bearing bank account separate and distinct from any personal or other account of the licensed broker, held or owed by the licensed broker unclaimed for two years.

(N) Any sum payable as wages, salaries, or commissions, any sum payable for services rendered, funds owed or held as royalties, oil and mineral proceeds, funds held for or owed to suppliers, moneys owed under pension and profit-sharing plans, and all other credits, held or owed by any holder unclaimed for one year from date payable or distributable;

(O) Amounts held in respect of or represented by lay-aways sold after January 1, 1972, less any lawful claims, when such lay-aways are unclaimed for three years after the sale of them;

(P) All moneys, rights to moneys, and other intangible property not otherwise constituted as unclaimed funds by this section, including any income or increment on them, less any lawful claims, which are held or owed by any holder, other than a holder which holds a permit issued pursuant to Chapter 3769. of the Revised Code, and which have remained unclaimed for five years after becoming payable or distributable;

(Q) All moneys that arise out of a sale held pursuant to section 5322.03 of the Revised Code, that are held by a holder for delivery on demand to the appropriate person pursuant to division (I) of that section, and that are unclaimed for two years after the date of the sale.

(R) ALL MONEYS ARISING FROM THE REDEMPTION OF DELINQUENT LAND UNDER SECTION 5721.37 of the Revised Code AND UNCLAIMED BY THE HOLDER OF THE TAX CERTIFICATE RESPECTING THAT LAND FOR FIVE YEARS FOLLOWING REDEMPTION OF DELINQUENT LAND.

(S) ALL MONEYS ARISING FROM AN OVERPAYMENT UNDER DIVISION (D)(2) OF SECTION 5721.37 OF THE REVISED CODE AND UNCLAIMED FOR FIVE YEARS FROM THE DATE THE UNDERTAKING WAS SATISFIED.

All moneys in a personal allowance account, as defined by rules adopted by the department of human services, up to and including the maximum resource limitation, of a medicaid patient who has died after receiving care in a long-term care facility, and for whom there is no identifiable heir or sponsor, are not subject to this chapter.

Sec. 323.25. When taxes charged against an entry on the tax duplicate, or any part of such taxes, are not paid within sixty days after delivery of the delinquent land duplicate to the treasurer as prescribed by section 5721.011 of the Revised Code, the county treasurer shall enforce the lien for such taxes by civil action in his name THE TREASURER'S OFFICIAL CAPACITY as treasurer, for the sale of such premises, in the court of common pleas of the county in the same way mortgage liens are enforced. If service by publication is necessary, such publication shall be made once a week for three consecutive weeks instead of as provided by the Rules of Civil Procedure, and the service shall be complete at the expiration of three weeks after the date of the first publication. If the prosecuting attorney determines that service upon a defendant may be obtained ultimately only by publication, he THE PROSECUTING ATTORNEY may cause service to be made by certified mail, return receipt requested; ordinary mail; and publication, simultaneously. The treasurer shall not enforce the lien for taxes against real property that TO WHICH ANY OF THE FOLLOWING APPLIES:

(A) THE REAL PROPERTY is the subject of an application for exemption from taxation under section 5715.27 of the Revised Code and that does not appear on the delinquent land duplicate;

(B) THE REAL PROPERTY IS THE SUBJECT OF A VALID UNDERTAKING UNDER SECTION 323.31 of the Revised Code FOR WHICH THE COUNTY TREASURER HAS NOT MADE CERTIFICATION TO THE COUNTY AUDITOR THAT THE UNDERTAKING HAS BECOME VOID;

(C) A TAX CERTIFICATE RESPECTING THAT PROPERTY HAS BEEN SOLD UNDER SECTION 5721.32 of the Revised Code.

Upon application of the plaintiff, the court shall advance such cause on the docket, so that it may be first heard.

Sec. 323.31. (A) Delinquent taxes charged against any entry of real property may be paid pursuant to this division by the person who owns the real property or is a vendee in possession under a purchase agreement or land contract after entering into a written undertaking with the county treasurer in a form prescribed or approved by the tax commissioner. The undertaking may be entered into at any time prior to the county prosecuting attorney's commencement of foreclosure proceedings pursuant to section 323.25 or 5721.18 of the Revised Code, or commencement of foreclosure and forfeiture proceedings pursuant to section 5721.14 of the Revised Code. A duplicate copy of each such undertaking shall be filed with the county auditor, who shall attach such copy to the delinquent land tax certificate or delinquent vacant land tax certificate, or who shall enter an asterisk in the margin next to the entry for the tract or lot on the master list of delinquent tracts or master list of delinquent vacant tracts, prior to filing it with the prosecuting attorney under section 5721.13 of the Revised Code. If the undertaking is entered into after the certificate or the master list has been filed with the prosecuting attorney, the treasurer shall file the duplicate copy with the prosecuting attorney.

An undertaking entered into under this division shall provide for the payment of delinquent taxes in installments over a period not to exceed five years beginning on the earliest date delinquent taxes that are the subject of the undertaking were included in a certification under section 5721.011 of the Revised Code; however, a person entering into an undertaking may request, and the treasurer shall allow, an undertaking providing for payment in installments over a period of no fewer than two years beginning on that date. For each undertaking, the county treasurer shall determine, and shall specify in the undertaking, the number of installments, the amount of each installment, and the schedule for payment of the installments.

Each installment payment shall be apportioned among the several funds for which taxes have been assessed and shall be applied to the items of taxes charged in the order in which they became due.

When an installment payment is not received by the treasurer when due or any current taxes charged against the property become delinquent, the undertaking becomes void unless the treasurer permits a new undertaking to be entered into; if the treasurer does not permit a new undertaking to be entered into, the treasurer shall certify to the auditor that the undertaking has become void. A new undertaking entered into under this paragraph shall provide for payment of the outstanding balance of delinquent taxes over a period that, when added to the periods of any previous undertakings that had elapsed prior to their becoming void, does not exceed ten years.

Upon receipt of such a certification, the auditor shall destroy his THE duplicate copy of the undertaking. If such copy has been filed with the prosecuting attorney, the auditor immediately shall deliver the certification to the prosecuting attorney, who shall attach it to the appropriate certificate and the duplicate copy of the voided undertaking or strike through the asterisk entered in the margin of the master list next to the entry for the tract or lot that is the subject of the voided undertaking. The prosecuting attorney then shall institute a proceeding to foreclose the lien of the state in accordance with section 323.25 or 5721.18 of the Revised Code or, in the case of delinquent vacant land, shall institute a foreclosure proceeding in accordance with section 323.25 or 5721.18 of the Revised Code, or a foreclosure and forfeiture proceeding in accordance with section 5721.14 of the Revised Code.

AFTER A TAX CERTIFICATE HAS BEEN SOLD RESPECTING A DELINQUENT PARCEL UNDER SECTION 5721.32 of the Revised Code, A WRITTEN UNDERTAKING MAY NOT BE ENTERED INTO UNDER THIS SECTION TO PAY THE DELINQUENT AMOUNTS. TO PAY THE DELINQUENCY IN INSTALLMENTS, THE OWNER OR OTHER PERSON SEEKING TO REDEEM THE PARCEL SHALL ENTER INTO A REDEMPTION PAYMENT PLAN UNDER DIVISION (C) OF SECTION 5721.37 of the Revised Code.

(B) Within ten days after the date prescribed by section 323.12 or 323.17 of the Revised Code for payment of the first half installment of the current taxes, any person failing to pay the amount required by such date, with the consent of the treasurer, may enter into a written undertaking with the treasurer, in a form prescribed by the tax commissioner, to pay all current taxes pursuant to this division. The agreement shall provide for the entire amount of such taxes to be paid in three or fewer installments before the date set by section 323.12 or 323.17 of the Revised Code for the payment of the second installment of such taxes. Each payment made under this division shall be not less than one-third of the total amount of the current taxes, unless the collection of a particular tax has been legally enjoined, or unless at any scheduled payment date less than one-third of the total amount remains unpaid, in which case the total balance shall be paid.

If a payment is not received by the treasurer when due under the terms of an undertaking made under this division, the treasurer may permit the taxpayer to make the payment at a later date, provided the payment is received before the date set by section 323.12 or 323.17 of the Revised Code for the payment of the second installment of current taxes. If the total taxes arranged to be paid pursuant to such an undertaking are not received before such date, the undertaking shall become void and the treasurer shall proceed to collect all unpaid taxes then due by any other means provided by law.

Sec. 1109.65. IN ORDER TO PROTECT ITS INTEREST IN A PROPERTY, A BANK MAY PURCHASE A TAX CERTIFICATE UNDER SECTION 5721.32 of the Revised Code.

Sec. 5721.01. (A) As used in this chapter:

(1) "Delinquent lands" means all lands upon which delinquent taxes, as defined in section 323.01 of the Revised Code, remain unpaid at the time a settlement is made between the county treasurer and auditor pursuant to division (C) of section 321.24 of the Revised Code.

(2) "Delinquent vacant lands" means all lands that have been delinquent lands for at least five years and that are unimproved by any dwelling.

(B) As used in sections 5719.04 and, 5721.03, AND 5721.31 of the Revised Code and in any other sections of the Revised Code to which those sections are applicable, a newspaper or newspaper of general circulation shall be a publication bearing a title or name, regularly issued as frequently as once a week for a definite price or consideration paid for by not less than fifty per cent of those to whom distribution is made, having a second class mailing privilege, being not less than four pages, published continuously during the immediately preceding one-year period, and circulated generally in the political subdivision in which it is published. Such publication shall be of a type to which the general public resorts for passing events of a political, religious, commercial, and social nature, current happenings, announcements, miscellaneous reading matter, advertisements, and other notices.

Sec. 5721.03. (A) At the time of making the delinquent land list, as provided in section 5721.011 of the Revised Code, the county auditor shall compile a delinquent tax list consisting of all lands on the delinquent land list on which taxes have become delinquent at the close of the collection period immediately preceding the making of the delinquent land list. The auditor shall also compile a delinquent vacant land tax list of all delinquent vacant lands prior to the institution of any foreclosure and forfeiture actions against delinquent vacant lands under section 5721.14 of the Revised Code or any foreclosure actions against delinquent vacant lands under section 5721.18 of the Revised Code.

The delinquent tax list, and the delinquent vacant land tax list if one is compiled, shall contain all of the information included on the delinquent land list, except that, if the auditor's records show that the name of the person in whose name the property currently is listed is not the name that appears on the delinquent land list, the name used in the delinquent tax list or the delinquent vacant land tax list shall be the name of the person the auditor's records show as the person in whose name the property currently is listed.

Lands that have been included in a previously published delinquent tax list shall not be included in the delinquent tax list so long as taxes have remained delinquent on such lands for the entire intervening time.

In either list, there may be included lands that have been omitted in error from a prior list and lands with respect to which the auditor has received a certification that an undertaking has become void since the publication of the last previously published list, provided the name of the owner was stricken from a prior list under section 5721.02 of the Revised Code.

(B)(1) The auditor shall cause the delinquent tax list and the delinquent vacant land tax list, if one is compiled, to be published twice within sixty days after the delivery of the delinquent land duplicate to the county treasurer, in a newspaper of general circulation in the county. The publication shall be printed in the English language.

The auditor shall insert display notices of the forthcoming publication of the delinquent tax list and, if it is to be published, the delinquent vacant land tax list once a week for two consecutive weeks in a newspaper of general circulation in the county. The display notices shall contain the times and methods of payment of taxes provided by law, including information concerning installment payments made in accordance with a written undertaking. The display notice for the delinquent tax list also shall include a notice that an interest charge will accrue on accounts remaining unpaid after the last day of November unless the taxpayer enters a written undertaking to pay such taxes in installments. The display notice for the delinquent vacant land tax list if it is to be published also shall include a notice that delinquent vacant lands in the list are lands on which taxes have remained unpaid for five years after being certified delinquent, and that they are subject to foreclosure proceedings as provided in section 323.25 or 5721.18 of the Revised Code, or foreclosure and forfeiture proceedings as provided in section 5721.14 of the Revised Code. Each display notice also shall STATE THAT THE LANDS ARE SUBJECT TO A TAX CERTIFICATE SALE UNDER SECTION 5721.32 of the Revised Code AND SHALL include any other information that the auditor considers pertinent to the purpose of the notice. The display notices shall be furnished by the auditor to the newspapers selected to publish the lists at least ten days before their first publication.

(2) Publication of the list or lists may be made by a newspaper in installments, provided the complete publication of each list is made twice during the sixty-day period.

(3) There shall be attached to the delinquent tax list a notice that the delinquent lands will be certified for foreclosure by the auditor unless the taxes, assessments, interest, and penalties due and owing on them are paid. There shall be attached to the delinquent vacant land tax list, if it is to be published, a notice that delinquent vacant lands will be certified for foreclosure or foreclosure and forfeiture by the auditor unless the taxes, assessments, interest, and penalties due and owing on them are paid within twenty-eight days after the final publication of the notice.

(4) The auditor shall review the first publication of each list for accuracy and completeness and may correct any errors appearing in the list in the second publication.

(C) For the purposes of section 5721.18 of the Revised Code, land is first certified delinquent on the date of the certification of the delinquent land list containing that land.

Sec. 5721.06. (A)(1) The form of the notice required to be attached to the published delinquent tax list by division (B)(3) of section 5721.03 of the Revised Code shall be in substance as follows:

The lands, lots, and parts of lots returned delinquent by the county treasurer of ................... county, with the taxes, assessments, interest, and penalties, charged against them agreeably to law, are contained and described in the following list: (Here insert the list with the names of the owners of such respective tracts of land or town lots as designated on the delinquent tax list. If, prior to forty-eight hours before the publication of the list, an undertaking has been entered into under section 323.31 of the Revised Code, the owner's name may be stricken from the list or designated by an asterisk shown in the margin next to the owner's name.)

Notice is hereby given that the whole of such several lands, lots, or parts of lots will be certified for foreclosure by the county auditor pursuant to law unless the whole of the delinquent taxes, assessments, interest, and penalties are paid within one year OR UNLESS A TAX CERTIFICATE WITH RESPECT TO THE PARCEL IS SOLD UNDER SECTION 5721.32 of the Revised Code. The names of persons who have entered into a written undertaking with the county treasurer to discharge the delinquency are designated by an asterisk or have been stricken from the list."

(2) IF THE COUNTY TREASURER HAS CERTIFIED TO THE COUNTY AUDITOR THAT THE TREASURER INTENDS TO OFFER FOR SALE A TAX CERTIFICATE WITH RESPECT TO ONE OR MORE PARCELS OF DELINQUENT LAND UNDER SECTION 5721.32 of the Revised Code, THE FORM OF THE NOTICE SHALL INCLUDE THE FOLLOWING STATEMENT, APPENDED AFTER THE SECOND PARAGRAPH OF THE NOTICE PRESCRIBED BY DIVISION (A)(1) OF THIS SECTION:

"NOTICE ALSO IS HEREBY GIVEN THAT A TAX CERTIFICATE MAY BE OFFERED FOR SALE UNDER SECTION 5721.32 of the Revised Code WITH RESPECT TO THOSE PARCELS SHOWN ON THIS LIST. IF A TAX CERTIFICATE ON A PARCEL IS PURCHASED, THE PURCHASER OF THE TAX CERTIFICATE ACQUIRES THE STATE'S OR ITS TAXING DISTRICT'S FIRST LIEN AGAINST THE PROPERTY, AND AN ADDITIONAL INTEREST CHARGE OF UP TO EIGHTEEN PER CENT PER ANNUM SHALL BE ASSESSED AGAINST THE PARCEL. IN ADDITION, FAILURE BY THE OWNER OF THE PARCEL TO PAY THE WHOLE OF THE DELINQUENCY MAY RESULT IN FORECLOSURE PROCEEDINGS AGAINST THE PARCEL. NO TAX CERTIFICATE SHALL BE OFFERED FOR SALE IF THE OWNER OF THE PARCEL HAS EITHER DISCHARGED THE LIEN BY PAYING TO THE COUNTY TREASURER IN CASH THE AMOUNT OF DELINQUENT TAXES, ASSESSMENTS, PENALTIES, INTEREST, AND CHARGES CHARGED AGAINST THE PROPERTY, OR HAS ENTERED INTO A VALID UNDERTAKING PURSUANT TO SECTION 323.31 OF THE REVISED CODE TO PAY THOSE AMOUNTS IN INSTALLMENTS."

(B) The form of the notice required to be attached to the published delinquent vacant land tax list by division (B)(3) of section 5721.03 of the Revised Code shall be in substance as follows:

The delinquent vacant lands returned delinquent by the county treasurer of ................. county, with the taxes, assessments, interest, and penalties charged against them according to law, and remaining delinquent for five years, are contained and described in the following list: (here insert the list with the names of the owners of the respective tracts of land as designated on the delinquent vacant land tax list. If, prior to forty-eight hours before the publication of the list, an undertaking has been entered into under section 323.31 of the Revised Code, the owner's name may be stricken from the list or designated by an asterisk shown in the margin next to the owner's name.)

Notice is hereby given that these delinquent vacant lands will be certified for foreclosure or foreclosure and forfeiture by the county auditor pursuant to law unless the whole of the delinquent taxes, assessments, interest, and penalties are paid within twenty-eight days after the final publication of this notice. The names of persons who have entered into a written undertaking with the county treasurer to discharge the delinquency are designated by an asterisk or have been stricken from the list."

Sec. 5721.10. The EXCEPT AS OTHERWISE PROVIDED UNDER SECTIONS 5721.30 TO 5721.40 of the Revised Code, THE state shall have the first lien on the lands and lots described in the delinquent land list, for the amount of taxes, assessments, interest, and penalty charged prior to the delivery of such list. If the taxes have not been paid for one year after having been certified as delinquent, the state shall institute foreclosure proceedings in the manner provided by sections 5721.01 to 5721.28 of the Revised Code UNLESS A TAX CERTIFICATE RESPECTING THAT PROPERTY HAS BEEN SOLD UNDER SECTION 5721.32 of the Revised Code, OR unless such taxes are the subject of a valid undertaking under section 323.31 of the Revised Code for which the county treasurer has not made certification to the county auditor that the undertaking has become void, and there shall be taxed by the. THE court SHALL LEVY, as costs in the foreclosure proceedings instituted on said certification, the cost of an abstract or certificate of title to the property described in said certification, if the same is required by the court, to be paid into the general fund of the county. Such sections SECTIONS 5721.01 TO 5721.28 of the Revised Code do not prevent the partial payment of such delinquent taxes, assessments, interest, and penalty during the period the delinquency is being discharged in accordance with an undertaking under section 323.31 of the Revised Code, but such partial payments may be made and received as provided by law without prejudice to the right of the state to institute foreclosure proceedings for any amount then remaining unpaid if the county treasurer certifies to the county auditor that the undertaking has become void.

Sec. 5721.30. AS USED IN SECTIONS 5721.30 TO 5721.40 of the Revised Code:

(A) "TAX CERTIFICATE," "CERTIFICATE," OR "DUPLICATE CERTIFICATE" MEANS A DOCUMENT WHICH MAY BE ISSUED AS A PHYSICAL CERTIFICATE, IN BOOK-ENTRY FORM, OR THROUGH AN ELECTRONIC MEDIUM, AT THE DISCRETION OF THE COUNTY TREASURER. SUCH DOCUMENT SHALL CONTAIN THE INFORMATION REQUIRED BY SECTION 5721.31 of the Revised Code AND SHALL BE PREPARED, TRANSFERRED, OR REDEEMED IN THE MANNER PRESCRIBED BY SECTIONS 5721.30 TO 5721.40 of the Revised Code. AS USED IN THOSE SECTIONS, "TAX CERTIFICATE," "CERTIFICATE," AND "DUPLICATE CERTIFICATE" DO NOT REFER TO THE DELINQUENT LAND TAX CERTIFICATE OR THE DELINQUENT VACANT LAND TAX CERTIFICATE ISSUED UNDER SECTION 5721.13 of the Revised Code.

(B) "CERTIFICATE PARCEL" MEANS THE PARCEL OF DELINQUENT LAND THAT IS THE SUBJECT OF AND IS DESCRIBED IN A TAX CERTIFICATE.

(C) "CERTIFICATE HOLDER" MEANS A PERSON WHO PURCHASES A TAX CERTIFICATE UNDER SECTION 5721.32 of the Revised Code, OR A PERSON TO WHOM A TAX CERTIFICATE HAS BEEN TRANSFERRED PURSUANT TO SECTION 5721.35 of the Revised Code.

(D) "CERTIFICATE PURCHASE PRICE" MEANS THE AMOUNT OF DELINQUENT TAXES, ASSESSMENTS, PENALTIES, INTEREST COMPUTED UNDER SECTION 323.121 of the Revised Code, AND CHARGES CHARGED AGAINST A CERTIFICATE PARCEL AT THE TIME THE TAX CERTIFICATE RESPECTING THAT PARCEL IS SOLD, NOT INCLUDING ANY DELINQUENT TAXES, ASSESSMENTS, PENALTIES, INTEREST, AND CHARGES, THE LIEN FOR WHICH HAS BEEN CONVEYED TO A CERTIFICATE HOLDER THROUGH A PRIOR SALE OF A TAX CERTIFICATE RESPECTING THAT PARCEL.

(E) EXCEPT AS PROVIDED IN DIVISION (E)(3) OF THIS SECTION, "CERTIFICATE REDEMPTION PRICE" MEANS THE AMOUNT DETERMINED UNDER DIVISION (E)(1) OR (2) OF THIS SECTION.

(1) DURING THE FIRST YEAR AFTER THE DATE ON WHICH A TAX CERTIFICATE IS SOLD, THE SUM OF THE FOLLOWING:

(a) THE CERTIFICATE PURCHASE PRICE;

(b) THE GREATER OF THE FOLLOWING:

(i) INTEREST, AT THE CERTIFICATE RATE OF INTEREST, ACCRUING DURING THE CERTIFICATE INTEREST PERIOD ON THE CERTIFICATE PURCHASE PRICE;

(ii) SIX PER CENT OF THE CERTIFICATE PURCHASE PRICE.

(c) THE FEE CHARGED BY THE COUNTY TREASURER TO THE PURCHASER OF THE CERTIFICATE UNDER DIVISION (H) OF SECTION 5721.32 OF THE REVISED CODE.

(2) AFTER THE FIRST YEAR AFTER THE DATE ON WHICH A TAX CERTIFICATE IS SOLD, THE SUM OF THE FOLLOWING:

(a)(i) IF DIVISION (E)(1)(b)(i) APPLIED DURING THE FIRST YEAR, THE CERTIFICATE PURCHASE PRICE;

(ii) IF DIVISION (E)(1)(b)(ii) APPLIED DURING THE FIRST YEAR, THE SUM OF THE CERTIFICATE PURCHASE PRICE PLUS SIX PER CENT OF THE CERTIFICATE PURCHASE PRICE;

(b)(i) IF DIVISION (E)(1)(b)(i) APPLIED DURING THE FIRST YEAR, INTEREST AT THE CERTIFICATE RATE OF INTEREST ACCRUING DURING THE CERTIFICATE INTEREST PERIOD ON THE CERTIFICATE PURCHASE PRICE;

(ii) IF DIVISION (E)(1)(b)(ii) APPLIED DURING THE FIRST YEAR, INTEREST AT THE CERTIFICATE RATE OF INTEREST, ACCRUING DURING THE PART OF THE CERTIFICATE INTEREST PERIOD THAT BEGINS ONE YEAR AFTER THE DATE OF THE SALE OF THE CERTIFICATE, ON THE SUM OF THE CERTIFICATE PURCHASE PRICE PLUS SIX PER CENT OF THE CERTIFICATE PURCHASE PRICE;

(c) THE FEE CHARGED BY THE COUNTY TREASURER TO THE PURCHASER OF THE CERTIFICATE UNDER DIVISION (H) OF SECTION 5721.32 OF THE REVISED CODE;

(3) IF THE CERTIFICATE RATE OF INTEREST EQUALS ZERO, THE CERTIFICATE REDEMPTION PRICE EQUALS THE CERTIFICATE PURCHASE PRICE PLUS THE FEE CHARGED BY THE COUNTY TREASURER TO THE PURCHASER OF THE CERTIFICATE UNDER DIVISION (H) OF SECTION 5721.32 of the Revised Code.

(F) "CERTIFICATE RATE OF INTEREST" MEANS THE RATE OF SIMPLE INTEREST PER YEAR BID BY THE WINNING BIDDER IN AN AUCTION OF A TAX CERTIFICATE HELD UNDER SECTION 5721.32 of the Revised Code.

(G) "CASH" MEANS UNITED STATES CURRENCY, CERTIFIED CHECKS, MONEY ORDERS, BANK DRAFTS, OR ELECTRONIC TRANSFER OF FUNDS, AND EXCLUDES ANY OTHER FORM OF PAYMENT.

(H) "PURCHASER OF A TAX CERTIFICATE PURSUANT TO SECTION 5721.32 of the Revised Code" MEANS THE WINNING BIDDER IN AN AUCTION OF A TAX CERTIFICATE HELD UNDER SECTION 5721.32 of the Revised Code.

(I) "CERTIFICATE INTEREST PERIOD" MEANS THE PERIOD BEGINNING ON THE DATE THE CERTIFICATE IS PURCHASED AND ENDING ON ONE OF THE FOLLOWING DATES:

(1) IN THE CASE OF FORECLOSURE PROCEEDINGS INSTITUTED UNDER SECTION 5721.36 OF THE REVISED CODE, THE DATE THE CERTIFICATE HOLDER SUBMITS A PAYMENT TO THE TREASURER UNDER DIVISION (A) OF THAT SECTION;

(2) IN THE CASE OF A CERTIFICATE PARCEL REDEEMED UNDER DIVISION (A) OR (C) OF SECTION 5721.37 OF THE REVISED CODE, THE DATE THE OWNER OF RECORD OF THE CERTIFICATE PARCEL, OR ANY OTHER PERSON ENTITLED TO REDEEM THAT PARCEL, PAYS TO THE COUNTY TREASURER THE FULL AMOUNT DETERMINED UNDER THAT SECTION.

(J) "COUNTY PROSECUTING ATTORNEY" MEANS THE COUNTY PROSECUTOR OF A COUNTY HAVING A POPULATION OF AT LEAST TWO HUNDRED THOUSAND ACCORDING TO THE MOST RECENT FEDERAL DECENNIAL CENSUS.

(K) "COUNTY TREASURER" MEANS THE COUNTY TREASURER OF A COUNTY HAVING A POPULATION OF AT LEAST TWO HUNDRED THOUSAND ACCORDING TO THE MOST RECENT FEDERAL DECENNIAL CENSUS.

Sec. 5721.31. (A) AFTER RECEIPT OF A DUPLICATE OF THE DELINQUENT LAND LIST COMPILED UNDER SECTION 5721.011 OF THE REVISED CODE FOR A COUNTY HAVING A POPULATION OF AT LEAST TWO HUNDRED THOUSAND ACCORDING TO THE MOST RECENT FEDERAL DECENNIAL CENSUS, THE COUNTY TREASURER MAY SELECT FROM THE LIST PARCELS OF DELINQUENT LAND THE LIEN AGAINST WHICH THE COUNTY TREASURER MAY ATTEMPT TO TRANSFER BY THE SALE OF TAX CERTIFICATES UNDER SECTIONS 5721.30 TO 5721.40 OF THE REVISED CODE. THE COUNTY TREASURER MAY SELECT ONLY THOSE PARCELS FOR WHICH TAXES, ASSESSMENTS, PENALTIES, INTEREST, AND CHARGES HAVE NOT YET BEEN PAID OR FOR WHICH A VALID UNDERTAKING IS NOT IN FORCE UNDER SECTION 323.31 OF THE REVISED CODE. EACH CERTIFICATE SHALL CONTAIN THE SAME INFORMATION AS IS REQUIRED TO BE CONTAINED IN THE DELINQUENT LAND LIST. THE COUNTY TREASURER SHALL COMPILE A SEPARATE LIST, THE LIST OF PARCELS SELECTED FOR TAX CERTIFICATE SALES, INCLUDING THE SAME INFORMATION AS IS REQUIRED TO BE INCLUDED IN THE DELINQUENT LAND LIST.

UPON COMPILING THE LIST OF PARCELS SELECTED FOR TAX CERTIFICATE SALES, THE COUNTY TREASURER MAY CONDUCT A TITLE SEARCH FOR ANY PARCEL ON THE LIST. THE COUNTY TREASURER SHALL SEND WRITTEN NOTICE BY CERTIFIED OR REGISTERED MAIL TO EITHER THE OWNER OR ALL INTERESTED PARTIES, OR BOTH, OF EACH PARCEL ON THE LIST. THE NOTICE SHALL INFORM THE OWNER OR INTERESTED PARTIES THAT A TAX CERTIFICATE WILL BE OFFERED FOR SALE ON THE PARCEL, AND THAT THE OWNER OR INTERESTED PARTIES MAY INCUR ADDITIONAL EXPENSES AS A RESULT OF THE SALE.

(B) THE COUNTY TREASURER SHALL ADVERTISE THE SALE OF TAX CERTIFICATES IN A MANNER OR MEDIUM DETERMINED BY THE COUNTY TREASURER, IN THE COUNTY TREASURER'S DISCRETION, TO GIVE REASONABLE NOTICE TO PARTIES INTERESTED IN THE PURCHASE OF TAX CERTIFICATES. THE COUNTY TREASURER SHALL ADVERTISE THE SALE OF TAX CERTIFICATES IN A NEWSPAPER OF GENERAL CIRCULATION IN THE COUNTY, ONCE A WEEK FOR THREE CONSECUTIVE WEEKS. THE ADVERTISEMENT SHALL INCLUDE THE DATE, THE TIME, AND THE PLACE OF THE PUBLIC AUCTION, DESCRIPTIONS OF THE PARCELS, AND THE NAMES OF THE OWNERS OF RECORD OF THE PARCELS.

(C) AFTER THE COUNTY TREASURER HAS COMPILED THE LIST OF PARCELS SELECTED FOR TAX CERTIFICATE SALES BUT BEFORE A TAX CERTIFICATE RESPECTING A PARCEL IS SOLD, IF THE OWNER OF RECORD OF THE PARCEL PAYS TO THE COUNTY TREASURER IN CASH THE FULL AMOUNT OF DELINQUENT TAXES, ASSESSMENTS, PENALTIES, INTEREST, AND CHARGES THEN DUE AND PAYABLE OR ENTERS INTO A VALID UNDERTAKING TO PAY THAT AMOUNT UNDER SECTION 323.31 OF THE REVISED CODE, THE OWNER OF RECORD OF THE PARCEL ALSO SHALL PAY A FEE IN AN AMOUNT PRESCRIBED BY THE TREASURER TO COVER THE ADMINISTRATIVE COSTS OF THE TREASURER UNDER THIS SECTION RESPECTING THE PARCEL AND CREDITED TO THE TAX CERTIFICATE ADMINISTRATIVE FUND.

(D) A TAX CERTIFICATE ADMINISTRATION FUND SHALL BE CREATED IN THE COUNTY TREASURY OF EACH COUNTY SELLING TAX CERTIFICATES UNDER SECTIONS 5721.30 TO 5721.40 OF THE REVISED CODE. THE FUND SHALL BE ADMINISTERED BY THE COUNTY TREASURER, AND USED SOLELY FOR THE PURPOSES OF SECTIONS 5721.30 TO 5721.40 OF THE REVISED CODE. ANY FEE RECEIVED BY THE TREASURER UNDER SECTIONS 5721.30 TO 5721.40 OF THE REVISED CODE SHALL BE CREDITED TO THE FUND, EXCEPT THE BIDDER REGISTRATION FEE UNDER DIVISION (B) OF SECTION 5721.32 OF THE REVISED CODE AND THE COUNTY PROSECUTING ATTORNEY'S FEE UNDER DIVISION (A)(3) OF SECTION 5721.36 OF THE REVISED CODE.

(E) THE COUNTY TREASURERS OF MORE THAN ONE COUNTY MAY JOINTLY CONDUCT A REGIONAL SALE OF TAX CERTIFICATES. A REGIONAL SALE SHALL BE HELD AT A SINGLE LOCATION IN ONE COUNTY, WHERE THE TAX CERTIFICATES FROM EACH OF THE PARTICIPATING COUNTIES SHALL BE OFFERED FOR SALE AT PUBLIC AUCTION. BEFORE THE REGIONAL SALE, EACH COUNTY TREASURER SHALL ADVERTISE THE SALE FOR THE PARCELS IN THE TREASURER'S COUNTY AS REQUIRED BY DIVISION (B) OF THIS SECTION. AT THE REGIONAL SALE, TAX CERTIFICATES WOULD BE SOLD ON PARCELS FROM ONE COUNTY AT A TIME, WITH ALL OF THE CERTIFICATES FOR ONE COUNTY OFFERED FOR SALE BEFORE ANY CERTIFICATES FOR THE NEXT COUNTY ARE OFFERED FOR SALE.

(F) THE TAX COMMISSIONER SHALL PRESCRIBE THE FORM OF THE TAX CERTIFICATE UNDER THIS SECTION, AND COUNTY TREASURERS SHALL USE THE FORM PRESCRIBED BY THE COMMISSIONER.

Sec. 5721.32. (A) THE SALE OF TAX CERTIFICATES MAY BE CONDUCTED AT ANY TIME AFTER COMPLETION OF THE ADVERTISING OF THE SALE UNDER SECTION 5721.31 OF THE REVISED CODE, ON THE DATE AND AT THE TIME AND PLACE DESIGNATED IN THE ADVERTISEMENTS, AND MAY BE CONTINUED FROM TIME TO TIME AS THE COUNTY TREASURER DIRECTS. THE COUNTY TREASURER MAY OFFER THE TAX CERTIFICATES FOR SALE IN BLOCKS OF TAX CERTIFICATES, CONSISTING OF ANY NUMBER OF TAX CERTIFICATES AS DETERMINED BY THE COUNTY TREASURER.

(B)(1) THE SALE OF TAX CERTIFICATES SHALL BE CONDUCTED AT A PUBLIC AUCTION BY THE COUNTY TREASURER OR A DESIGNEE OF THE COUNTY TREASURER. AT THE REQUEST OF THE TREASURER, THE BOARD OF COUNTY COMMISSIONERS MAY CONTRACT WITH AN AGENT TO CONDUCT THE SALE.

(2) NO PERSON SHALL BE PERMITTED TO BID WITHOUT COMPLETING A BIDDER REGISTRATION FORM, IN THE FORM PRESCRIBED BY THE TAX COMMISSIONER, AND FILING THE FORM WITH THE COUNTY TREASURER PRIOR TO THE START OF THE AUCTION, TOGETHER WITH REMITTANCE OF A REGISTRATION FEE, IN CASH, OF FIVE HUNDRED DOLLARS. THE BIDDER REGISTRATION FORM SHALL INCLUDE A TAX IDENTIFICATION NUMBER OF THE REGISTRANT. THE REGISTRATION FEE IS REFUNDABLE AT THE END OF BIDDING ON THE DAY OF THE AUCTION, UNLESS THE REGISTRANT IS THE WINNING BIDDER FOR ONE OR MORE TAX CERTIFICATES OR ONE OR MORE BLOCKS OF TAX CERTIFICATES, IN WHICH CASE THE FEE MAY BE APPLIED TOWARD THE DEPOSIT REQUIRED BY THIS SECTION.

(C) AT THE AUCTION, THE COUNTY TREASURER OR THE TREASURER'S DESIGNEE OR AGENT SHALL BEGIN THE BIDDING AT EIGHTEEN PER CENT PER YEAR SIMPLE INTEREST, AND ACCEPT LOWER BIDS IN EVEN INCREMENTS OF ONE-FOURTH OF ONE PER CENT TO THE RATE OF ZERO PER CENT. THE COUNTY TREASURER, DESIGNEE, OR AGENT SHALL AWARD THE TAX CERTIFICATE TO THE PERSON BIDDING THE LOWEST CERTIFICATE RATE OF INTEREST.

(D) THE WINNING BIDDER SHALL PAY THE COUNTY TREASURER A CASH DEPOSIT OF AT LEAST TEN PER CENT OF THE CERTIFICATE PURCHASE PRICE NOT LATER THAN THE CLOSE OF BUSINESS ON THE DAY OF THE SALE. THE WINNING BIDDER SHALL PAY THE BALANCE AND THE FEE REQUIRED UNDER DIVISION (H) OF THIS SECTION NOT LATER THAN FIVE BUSINESS DAYS AFTER THE DAY ON WHICH THE CERTIFICATE IS SOLD. IF THE WINNING BIDDER FAILS TO PAY THE BALANCE AND FEE WITHIN THE PRESCRIBED TIME, THE BIDDER FORFEITS THE DEPOSIT, AND THE COUNTY TREASURER SHALL RETAIN THE TAX CERTIFICATE AND MAY ATTEMPT TO SELL IT AT ANY AUCTION CONDUCTED AT A LATER DATE. THE COUNTY TREASURER SHALL DEPOSIT THE FORFEITED DEPOSIT IN THE COUNTY TREASURY TO THE CREDIT OF THE TAX CERTIFICATE ADMINISTRATION FUND.

(E) UPON RECEIPT OF THE FULL PAYMENT OF THE CERTIFICATE PURCHASE PRICE FROM THE PURCHASER, THE COUNTY TREASURER SHALL ISSUE AND RECORD THE TAX CERTIFICATE SALE BY MARKING ON THE TAX CERTIFICATE AND INTO A TAX CERTIFICATE REGISTER, THE CERTIFICATE PURCHASE PRICE, THE CERTIFICATE RATE OF INTEREST, THE DATE THE CERTIFICATE WAS SOLD, AND THE NAME AND ADDRESS OF THE CERTIFICATE PURCHASER. THE COUNTY TREASURER ALSO SHALL TRANSFER THE TAX CERTIFICATE TO THE PURCHASER. UPON THE TRANSFER OF A TAX CERTIFICATE, THE COUNTY TREASURER SHALL CREDIT THE PROCEEDS FROM THE SALE TO THE ITEMS OF TAXES, ASSESSMENTS, PENALTIES, INTEREST, AND CHARGES IN THE ORDER IN WHICH THOSE ITEMS BECAME DUE. UPON COMPLETION OF THE SALE OF A TAX CERTIFICATE, THE DELINQUENT TAXES, ASSESSMENTS, PENALTIES, AND INTEREST THAT MAKE UP THE CERTIFICATE PURCHASE PRICE ARE TRANSFERRED, AND THE SUPERIOR LIEN OF THE STATE AND ITS TAXING DISTRICTS FOR THOSE TAXES, ASSESSMENTS, PENALTIES, AND INTEREST IS CONVEYED INTACT TO THE CERTIFICATE HOLDER.

(F) IF A TAX CERTIFICATE IS OFFERED FOR SALE UNDER THIS SECTION BUT IS NOT SOLD, THE COUNTY TREASURER MAY STRIKE THE CORRESPONDING CERTIFICATE PARCEL FROM THE LIST OF PARCELS SELECTED FOR TAX CERTIFICATE SALES. THE LIEN FOR TAXES, ASSESSMENTS, CHARGES, PENALTIES, AND INTEREST AGAINST A PARCEL STRICKEN FROM THE LIST THEREAFTER MAY BE FORECLOSED IN THE MANNER PRESCRIBED BY SECTION 323.25, 5721.14, OR 5721.18 OF THE REVISED CODE UNLESS, PRIOR TO THE INSTITUTION OF SUCH PROCEEDINGS AGAINST THE PARCEL, THE COUNTY TREASURER RESTORES THE PARCEL TO THE LIST OF PARCELS SELECTED FOR TAX CERTIFICATE SALES.

(G) A CERTIFICATE HOLDER SHALL NOT BE LIABLE FOR DAMAGES ARISING FROM A VIOLATION OF SECTIONS 3737.87 TO 3737.891 OR CHAPTER 3704., 3734., 3745., 3746., 3750., 3751., 3752., 6109., OR 6111. of the Revised Code, OR A RULE ADOPTED OR ORDER, PERMIT, LICENSE, VARIANCE, OR PLAN APPROVAL ISSUED UNDER ANY OF THOSE CHAPTERS, THAT IS OR WAS COMMITTED BY ANOTHER PERSON IN CONNECTION WITH THE PARCEL FOR WHICH THE TAX CERTIFICATE IS HELD.

(H) WHEN SELLING A TAX CERTIFICATE UNDER THIS SECTION, THE COUNTY TREASURER SHALL CHARGE A FEE TO THE PURCHASER OF THE CERTIFICATE. THE TREASURER SHALL SET THE FEE AT A REASONABLE AMOUNT THAT COVERS THE TREASURER'S COSTS OF ADMINISTERING THE SALE OF THE TAX CERTIFICATE.

(I) AFTER SELLING A TAX CERTIFICATE UNDER THIS SECTION, THE COUNTY TREASURER SHALL SEND WRITTEN NOTICE BY CERTIFIED OR REGISTERED MAIL TO THE OWNER OF THE CERTIFICATE PARCEL. THE NOTICE SHALL INFORM THE OWNER THAT THE TAX CERTIFICATE WAS SOLD AND SHALL DESCRIBE THE OWNER'S OPTIONS TO REDEEM THE PARCEL, INCLUDING ENTERING INTO A REDEMPTION PAYMENT PLAN UNDER DIVISION (C) OF SECTION 5721.37 OF THE REVISED CODE.

(J) A TAX CERTIFICATE SHALL NOT BE SOLD TO THE OWNER OF THE CERTIFICATE PARCEL.

Sec. 5721.33. (A) A COUNTY TREASURER SHALL NOT SELL ANY TAX CERTIFICATE RESPECTING A PARCEL OF DELINQUENT LAND UPON WHICH THE FULL AMOUNT OF DELINQUENT TAXES, ASSESSMENTS, PENALTIES, INTEREST, CHARGES, AND COSTS THEN DUE AND PAYABLE HAVE BEEN PAID, OR A VALID UNDERTAKING TO PAY THAT AMOUNT HAS BEEN ENTERED INTO UNDER SECTION 323.31 OF THE REVISED CODE, PRIOR TO THE SALE OF THE CERTIFICATE BY THE COUNTY TREASURER. A CERTIFICATE SOLD IN VIOLATION OF THIS SECTION IS VOID.

(B) IF, WITHIN SIXTY DAYS AFTER THE DATE OF THE SALE OF A TAX CERTIFICATE, THE COUNTY TREASURER DISCOVERS THAT THE CERTIFICATE IS VOID UNDER DIVISION (A) OF THIS SECTION, THE HOLDER OF THE VOID CERTIFICATE IS ENTITLED TO A REFUND OF THE CERTIFICATE PURCHASE PRICE AND THE FEE CHARGED BY THE TREASURER UNDER DIVISION (H) OF SECTION 5721.32 OF THE REVISED CODE. IF THE COUNTY TREASURER DISCOVERS AFTER THAT SIXTY-DAY PERIOD THAT A TAX CERTIFICATE IS VOID, THE HOLDER OF THE VOID CERTIFICATE IS ENTITLED TO A REFUND EQUAL TO THE CERTIFICATE PURCHASE PRICE AND THE TREASURER'S FEE, PLUS INTEREST ON THE CERTIFICATE PURCHASE PRICE AT THE RATE OF FIVE PER CENT PER YEAR. THE HOLDER OF A VOID CERTIFICATE SHALL PRESENT THE CERTIFICATE TO THE COUNTY TREASURER TO OBTAIN THE REFUND, AND THE COUNTY AUDITOR SHALL ISSUE A WARRANT FOR THE AMOUNT OF THE REFUND FROM THE UNDIVIDED TAX FUND.

Sec. 5721.34. A TAX CERTIFICATE VESTS IN THE CERTIFICATE HOLDER THE FIRST LIEN OF THE STATE AND ITS TAXING DISTRICTS, SUPERIOR TO ALL OTHER LIENS AND ENCUMBRANCES UPON THE PARCEL DESCRIBED IN THE TAX CERTIFICATE, IN THE AMOUNT OF THE CERTIFICATE REDEMPTION PRICE, EXCEPT LIENS FOR FEDERAL TAXES NOTICE OF WHICH IS PROPERLY FILED UNDER SECTION 317.09 OF THE REVISED CODE PRIOR TO THE INSTITUTION OF FORECLOSURE PROCEEDINGS UNDER SECTION 5721.36 OF THE REVISED CODE.

Sec. 5721.35. (A) THE PURCHASER OF A TAX CERTIFICATE PURSUANT TO SECTION 5721.32 of the Revised Code MAY TRANSFER THE CERTIFICATE TO ANY PERSON, EXCEPT THE OWNER OF THE CERTIFICATE PARCEL, AND THE TRANSFEREE OF A TAX CERTIFICATE SUBSEQUENTLY MAY TRANSFER THE CERTIFICATE TO ANY OTHER PERSON, EXCEPT THE OWNER OF THE CERTIFICATE PARCEL. THE TRANSFEROR OF A TAX CERTIFICATE SHALL ENDORSE THE CERTIFICATE AND SHALL SWEAR TO THE ENDORSEMENT BEFORE A NOTARY PUBLIC OR OTHER OFFICER EMPOWERED TO ADMINISTER OATHS. THE TRANSFEREE SHALL PRESENT THE ENDORSED CERTIFICATE AND A VALID FORM OF IDENTIFICATION SHOWING THE TRANSFEREE'S TAXPAYER IDENTIFICATION NUMBER TO THE COUNTY TREASURER THAT PREPARED AND SOLD THE CERTIFICATE, WHO SHALL, UPON PAYMENT OF A FEE OF TWENTY DOLLARS TO COVER THE COSTS ASSOCIATED WITH THE TRANSFER OF A TAX CERTIFICATE, ENTER UPON THE REGISTER OF CERTIFICATE HOLDERS OPPOSITE THE CERTIFICATE ENTRY THE NAME AND ADDRESS OF THE TRANSFEREE AND THE DATE OF ENTRY. NO REQUEST FOR FORECLOSURE SHALL BE FILED BY ANY PERSON OTHER THAN THE PERSON SHOWN ON THE REGISTER TO BE THE CERTIFICATE HOLDER OR AN AGENT OF THAT PERSON PROPERLY AUTHORIZED TO ACT IN THAT PERSON'S BEHALF.

(B)(1) APPLICATION MAY BE MADE TO THE COUNTY TREASURER FOR A DUPLICATE CERTIFICATE IF A CERTIFICATE IS ALLEGED BY AFFIDAVIT TO HAVE BEEN LOST OR DESTROYED. THE TREASURER SHALL ISSUE A DUPLICATE CERTIFICATE, UPON PAYMENT OF A FEE OF TWENTY DOLLARS TO COVER THE COSTS OF ISSUING THE DUPLICATE CERTIFICATE.

(2) THE DUPLICATE CERTIFICATE SHALL BE PLAINLY MARKED OR STAMPED "DUPLICATE."

(3) THE TREASURER SHALL ENTER THE FACT OF THE DUPLICATE IN THE REGISTER OF CERTIFICATE HOLDERS.

Sec. 5721.36. (A) AT ANY TIME AFTER ONE YEAR FROM THE DATE SHOWN ON A TAX CERTIFICATE AS THE DATE THE TAX CERTIFICATE WAS SOLD, AND NOT LATER THAN THREE YEARS AFTER THAT DATE, THE CERTIFICATE HOLDER MAY FILE WITH THE COUNTY TREASURER A REQUEST FOR FORECLOSURE ON A FORM PRESCRIBED BY THE TAX COMMISSIONER AND PROVIDED BY THE COUNTY TREASURER, PROVIDED THE PARCEL HAS NOT YET BEEN REDEEMED UNDER DIVISION (A) OR (C) OF SECTION 5721.37 OF THE REVISED CODE. ALONG WITH THE REQUEST, THE CERTIFICATE HOLDER SHALL SUBMIT A PAYMENT TO THE TREASURER EQUAL TO THE SUM OF THE FOLLOWING:

(1) THE CERTIFICATE REDEMPTION PRICES OF ANY OTHER TAX CERTIFICATES THAT HAVE BEEN SOLD ON THE PARCEL;

(2) ANY DELINQUENT TAXES, ASSESSMENTS, PENALTIES, INTEREST, AND CHARGES CHARGED AGAINST THE PARCEL THAT ARE NOT COVERED BY A TAX CERTIFICATE;

(3) A FEE IN AN AMOUNT PRESCRIBED BY THE COUNTY PROSECUTING ATTORNEY TO COVER THE PROSECUTING ATTORNEY'S LEGAL COSTS INCURRED IN THE FORECLOSURE PROCEEDING.

IF THE PARCEL HAS NOT BEEN REDEEMED, THE COUNTY TREASURER SHALL PROVIDE CERTIFICATION TO THE COUNTY PROSECUTING ATTORNEY THAT THE PARCEL HAS NOT BEEN REDEEMED AND THAT THE CERTIFICATE HOLDER HAS MADE A FORECLOSURE REQUEST. WITHIN SIXTY DAYS OF RECEIVING THAT CERTIFICATION, THE PROSECUTING ATTORNEY SHALL COMMENCE A FORECLOSURE PROCEEDING IN THE NAME OF THE COUNTY TREASURER IN THE MANNER PROVIDED UNDER SECTION 323.25 OR 5721.18 of the Revised Code, TO FORECLOSE THE LIEN VESTED IN THE CERTIFICATE HOLDER BY THE CERTIFICATE. THE COUNTY TREASURER'S CERTIFICATION THAT THE PARCEL HAS NOT BEEN REDEEMED SHALL BE ATTACHED TO THE COMPLAINT.

(B) THE COUNTY TREASURER SHALL CREDIT THE AMOUNT RECEIVED UNDER DIVISION (A)(1) OF THIS SECTION TO THE TAX CERTIFICATE REDEMPTION FUND. THE TAX CERTIFICATES RESPECTING THE PAYMENT SHALL BE REDEEMED AS PROVIDED IN DIVISION (E) OF SECTION 5721.37 OF THE REVISED CODE. THE AMOUNT RECEIVED UNDER DIVISION (A)(2) OF THIS SECTION SHALL BE DISTRIBUTED TO THE TAXING DISTRICTS TO WHICH THE DELINQUENCIES ARE OWED. THE TREASURER SHALL TRANSFER THE FEE RECEIVED UNDER DIVISION (A)(3) OF THIS SECTION TO THE COUNTY PROSECUTING ATTORNEY.

(C) IF A CERTIFICATE HOLDER DOES NOT FILE WITH THE COUNTY TREASURER A REQUEST FOR FORECLOSURE FOR A CERTIFICATE PARCEL ALONG WITH THE REQUIRED PAYMENT WITHIN THREE YEARS AFTER THE DATE SHOWN ON THE TAX CERTIFICATE AS THE DATE THE CERTIFICATE WAS SOLD, AND DURING THAT PERIOD THE PARCEL IS NOT REDEEMED OR FORECLOSED UPON, THE CERTIFICATE HOLDER'S LIEN AGAINST THE PARCEL FOR THE AMOUNT OF DELINQUENT TAXES, ASSESSMENTS, PENALTIES, INTEREST, AND CHARGES THAT MAKE UP THE CERTIFICATE PURCHASE PRICE IS CANCELED.

Sec. 5721.37. (A) AT ANY TIME PRIOR TO THE COMMENCEMENT OF FORECLOSURE PROCEEDINGS UNDER SECTION 5721.36 OF THE REVISED CODE BY THE SUBMITTING OF THE PAYMENT TO THE COUNTY TREASURER BY THE CERTIFICATE HOLDER UNDER DIVISION (A) OF THAT SECTION, THE OWNER OF RECORD OF THE CERTIFICATE PARCEL, OR ANY OTHER PERSON ENTITLED TO REDEEM THAT PARCEL, MAY REDEEM THE PARCEL BY PAYING TO THE COUNTY TREASURER AN AMOUNT EQUAL TO THE TOTAL OF THE CERTIFICATE REDEMPTION PRICES OF ALL TAX CERTIFICATES RESPECTING THAT PARCEL PLUS THE SUM OF TAXES, ASSESSMENTS, PENALTIES, CHARGES, AND INTEREST CHARGED AGAINST THE PARCEL THAT HAVE BECOME DUE AND PAYABLE SINCE THE DATE THE LAST CERTIFICATE WAS SOLD.

(B) AT ANY TIME AFTER THE COMMENCEMENT OF FORECLOSURE PROCEEDINGS UNDER SECTION 5721.36 OF THE REVISED CODE BY THE SUBMITTING OF THE PAYMENT TO THE COUNTY TREASURER BY THE CERTIFICATE HOLDER UNDER DIVISION (A) OF THAT SECTION AND PRIOR TO THE FILING OF THE ENTRY OF CONFIRMATION OF SALE OF A CERTIFICATE PARCEL, THE OWNER OF RECORD OF THE CERTIFICATE PARCEL OR ANY OTHER PERSON ENTITLED TO REDEEM THAT PARCEL MAY REDEEM THE PARCEL BY PAYING TO THE COUNTY TREASURER THE AMOUNT DESCRIBED IN DIVISION (A) OF THIS SECTION PLUS INTEREST ON THE CERTIFICATE PURCHASE PRICE FOR EACH TAX CERTIFICATE SOLD RESPECTING THE PARCEL AT THE RATE OF EIGHTEEN PER CENT PER YEAR FOR THE PERIOD BEGINNING ON THE DAY ON WHICH THE PAYMENT WAS SUBMITTED BY THE CERTIFICATE HOLDER, TOGETHER WITH AN AMOUNT EQUAL TO THE SUM OF THE PROSECUTING ATTORNEY'S FEE UNDER DIVISION (A)(3) OF SECTION 5721.36 of the Revised Code AND ANY OTHER COSTS OF THE PROCEEDING ALLOCABLE TO THE PARCEL AS DETERMINED BY THE COURT.

(C) DURING THE PERIOD BEGINNING ON THE DATE A TAX CERTIFICATE IS SOLD AND ENDING ONE YEAR FROM THAT DATE, THE OWNER OF RECORD OF THE CERTIFICATE PARCEL, OR ANY OTHER PERSON ENTITLED TO REDEEM THAT PARCEL, MAY ENTER INTO A REDEMPTION PAYMENT PLAN WITH THE COUNTY TREASURER. THE PLAN SHALL REQUIRE THE OWNER OR OTHER PERSON TO PAY THE CERTIFICATE REDEMPTION PRICE FOR THE TAX CERTIFICATE IN INSTALLMENTS, WITH THE FINAL INSTALLMENT DUE NO LATER THAN ONE YEAR AFTER THE DATE THE TAX CERTIFICATE IS SOLD.

(D)(1) IMMEDIATELY UPON RECEIPT OF FULL PAYMENT UNDER DIVISION (A) OR (B) OF THIS SECTION, THE COUNTY TREASURER SHALL MAKE AN ENTRY TO THAT EFFECT IN THE TAX CERTIFICATE REGISTER AND NOTIFY EACH CERTIFICATE HOLDER BY CERTIFIED MAIL, RETURN RECEIPT REQUESTED, THAT THE PARCEL HAS BEEN REDEEMED AND THE LIEN CANCELED AND THAT TAX CERTIFICATES MAY BE REDEEMED. THE COUNTY TREASURER SHALL DEPOSIT INTO THE TAX CERTIFICATE REDEMPTION FUND CREATED IN THE COUNTY TREASURY AN AMOUNT EQUAL TO THE TOTAL OF THE CERTIFICATE REDEMPTION PRICES, TOGETHER WITH INTEREST ON THE CERTIFICATE PURCHASE PRICE FOR EACH TAX CERTIFICATE SOLD RESPECTING THE PARCEL AT THE RATE OF EIGHTEEN PER CENT PER YEAR PAID UNDER DIVISION (B) OF THIS SECTION FOR THE PERIOD BEGINNING WHEN THE PAYMENT WAS SUBMITTED BY THE CERTIFICATE HOLDER UNDER DIVISION (A) OF SECTION 5721.36 of the Revised Code AND ENDING WHEN THE PARCEL WAS REDEEMED. THE COUNTY TREASURER SHALL ADMINISTER THE FUND FOR THE PURPOSE OF REDEEMING TAX CERTIFICATES. INTEREST EARNED ON THE FUND SHALL BE CREDITED TO THE COUNTY GENERAL FUND.

(2) IF A REDEMPTION PAYMENT PLAN IS ENTERED INTO PURSUANT TO DIVISION (C) OF THIS SECTION, THE COUNTY TREASURER IMMEDIATELY SHALL NOTIFY EACH CERTIFICATE HOLDER BY CERTIFIED MAIL, RETURN RECEIPT REQUESTED, OF THE TERMS OF THE PLAN. INSTALLMENT PAYMENTS MADE PURSUANT TO THE PLAN SHALL BE DEPOSITED IN THE TAX CERTIFICATE REDEMPTION FUND. ANY OVERPAYMENT OF THE INSTALLMENTS SHALL BE REFUNDED TO THE PERSON RESPONSIBLE FOR CAUSING THE OVERPAYMENT IF THE PERSON APPLIES FOR A REFUND UNDER THIS SECTION. IF THE PERSON RESPONSIBLE FOR CAUSING THE OVERPAYMENT FAILS TO APPLY FOR A REFUND UNDER THIS SECTION WITHIN FIVE YEARS FROM THE DATE THE PLAN IS SATISFIED, AN AMOUNT EQUAL TO THE OVERPAYMENT SHALL BE DISPOSED OF AS UNCLAIMED FUNDS UNDER CHAPTER 169. OF THE REVISED CODE.

UPON SATISFACTION OF THE PLAN, THE COUNTY TREASURER SHALL INDICATE IN THE TAX CERTIFICATE REGISTER THAT THE PLAN HAS BEEN SATISFIED, AND SHALL NOTIFY EACH CERTIFICATE HOLDER BY CERTIFIED MAIL, RETURN RECEIPT REQUESTED, THAT THE PLAN HAS BEEN SATISFIED AND THAT TAX CERTIFICATES MAY BE REDEEMED.

IF A PLAN BECOMES VOID, THE COUNTY TREASURER IMMEDIATELY SHALL NOTIFY EACH CERTIFICATE HOLDER BY CERTIFIED MAIL, RETURN RECEIPT REQUESTED. IF A CERTIFICATE HOLDER FILES A REQUEST FOR FORECLOSURE UNDER SECTION 5721.36 of the Revised Code, UPON THE CONFIRMATION OF SALE RESULTING FROM THE FORECLOSURE, ANY MONEY PAID UNDER THE PLAN PRIOR TO ITS BECOMING VOID SHALL BE APPLIED TO PAYMENT AS PRESCRIBED UNDER DIVISIONS (A), (B), AND (C) OF SECTION 5721.38 OF THE REVISED CODE. ANY RESIDUE REMAINING AFTER SUCH PAYMENT SHALL BE DISPOSED OF UNDER SECTION 5721.20 OF THE REVISED CODE.

(E) TO REDEEM A TAX CERTIFICATE, THE CERTIFICATE HOLDER SHALL PRESENT THE TAX CERTIFICATE TO THE COUNTY TREASURER, WHO SHALL PREPARE THE REDEMPTION INFORMATION. UPON PRESENTATION, THE COUNTY AUDITOR SHALL DRAW A WARRANT ON THE TAX CERTIFICATE REDEMPTION FUND IN THE AMOUNT OF THE CERTIFICATE REDEMPTION PRICE. FOR A PARCEL THAT WAS REDEEMED UNDER DIVISION (B) OF THIS SECTION, THE CERTIFICATE HOLDER WHO PAID THE AMOUNTS UNDER DIVISION (A) OF SECTION 5721.36 OF THE REVISED CODE SHALL BE REIMBURSED FOR THOSE AMOUNTS, TOGETHER WITH INTEREST AT THE RATE OF EIGHTEEN PER CENT PER YEAR ON THE AMOUNT PAID UNDER DIVISION (A)(1) OF THAT SECTION FOR THE PERIOD BEGINNING WHEN THE PAYMENT WAS SUBMITTED BY THE CERTIFICATE HOLDER UNDER DIVISION (A) OF THAT SECTION AND ENDING WHEN THE PARCEL WAS REDEEMED. THE TREASURER SHALL MARK ALL COPIES OF THE TAX CERTIFICATE "REDEEMED" AND RETURN THE CERTIFICATE TO THE CERTIFICATE HOLDER. THE CANCELED CERTIFICATE SHALL SERVE AS A RECEIPT EVIDENCING REDEMPTION OF THE TAX CERTIFICATE. IF A CERTIFICATE HOLDER FAILS TO REDEEM A TAX CERTIFICATE WITHIN FIVE YEARS AFTER NOTICE IS SERVED UNDER DIVISION (D) OF THIS SECTION THAT TAX CERTIFICATES MAY BE REDEEMED, AN AMOUNT EQUAL TO THE CERTIFICATE REDEMPTION PRICE SHALL BE DISPOSED OF AS UNCLAIMED FUNDS UNDER CHAPTER 169. OF THE REVISED CODE.

Sec. 5721.38. IN ITS JUDGMENT OF FORECLOSURE RENDERED WITH RESPECT TO ACTIONS FILED PURSUANT TO SECTION 5721.36 OF THE REVISED CODE, THE COURT SHALL ENTER A FINDING WITH RESPECT TO THE CERTIFICATE PARCEL OF THE AMOUNT OF THE SUM OF THE CERTIFICATE REDEMPTION PRICES RESPECTING ALL THE TAX CERTIFICATES SOLD AGAINST THE PARCEL; INTEREST ON THE CERTIFICATE PURCHASE PRICES OF THOSE CERTIFICATES AT THE RATE OF EIGHTEEN PER CENT PER YEAR FOR THE PERIOD BEGINNING ON THE DAY ON WHICH THE PAYMENT WAS SUBMITTED BY THE CERTIFICATE HOLDER UNDER DIVISION (A) OF SECTION 5721.36 of the Revised Code; ANY DELINQUENT TAXES, ASSESSMENTS, PENALTIES, INTEREST, AND CHARGES ON THE PARCEL THAT ARE NOT COVERED BY A TAX CERTIFICATE; AND THE COSTS INCURRED IN THE FORECLOSURE PROCEEDING INSTITUTED AGAINST THE PARCEL INCLUDING THE PROSECUTING ATTORNEY'S COSTS REPRESENTED BY THE FEE PAID UNDER DIVISION (A)(3) OF SECTION 5721.36 of the Revised Code. THE COURT MAY ORDER THE CERTIFICATE PARCEL TO BE SOLD, WITHOUT APPRAISAL, FOR NOT LESS THAN THE AMOUNT OF ITS FINDING.

EACH CERTIFICATE PARCEL SHALL BE ADVERTISED AND SOLD BY THE OFFICER TO WHOM THE ORDER OF SALE IS DIRECTED IN THE MANNER PROVIDED BY LAW FOR THE SALE OF REAL PROPERTY ON EXECUTION. THE ADVERTISEMENT FOR SALE OF CERTIFICATE PARCELS SHALL BE PUBLISHED ONCE A WEEK FOR THREE CONSECUTIVE WEEKS AND SHALL INCLUDE THE DATE ON WHICH A SECOND SALE WILL BE CONDUCTED IF NO BID IS ACCEPTED AT THE FIRST SALE. ANY NUMBER OF PARCELS MAY BE INCLUDED IN ONE ADVERTISEMENT.

WHENEVER THE OFFICER CHARGED TO CONDUCT THE SALE OFFERS A CERTIFICATE PARCEL FOR SALE AND NO BIDS ARE MADE EQUAL TO AT LEAST THE AMOUNT OF THE COURT'S FINDING, THE OFFICER SHALL ADJOURN THE SALE OF THE PARCEL TO THE SECOND DATE THAT WAS SPECIFIED IN THE ADVERTISEMENT OF SALE. THE SECOND SALE SHALL BE HELD AT THE SAME PLACE AND COMMENCE AT THE SAME TIME AS SET FORTH IN THE ADVERTISEMENT OF SALE. THE OFFICER SHALL OFFER ANY PARCEL NOT SOLD AT THE FIRST SALE. UPON THE CONCLUSION OF ANY SALE, OR IF ANY PARCEL REMAINS UNSOLD AFTER BEING OFFERED AT TWO SALES, THE OFFICER CONDUCTING THE SALE SHALL REPORT THE RESULTS TO THE COURT.

UPON THE CONFIRMATION OF A SALE, THE PROCEEDS OF THE SALE SHALL BE APPLIED AS FOLLOWS:

(A) THE COSTS INCURRED IN THE PROCEEDING FILED AGAINST THE PARCEL PURSUANT TO SECTION 5721.36 OF THE REVISED CODE, NOT INCLUDING THE COUNTY PROSECUTOR'S COSTS COVERED BY THE FEE PAID BY THE CERTIFICATE HOLDER UNDER DIVISION (A)(3) OF THAT SECTION, SHALL BE PAID FIRST;

(B) FOLLOWING THE PAYMENT REQUIRED BY DIVISION (A) OF THIS SECTION, THE CERTIFICATE HOLDER THAT REQUESTED THE FORECLOSURE SHALL BE PAID THE SUM OF THE AMOUNT FOUND DUE FOR THE CERTIFICATE REDEMPTION PRICES OF ALL THE TAX CERTIFICATES SOLD AGAINST THE PARCEL; INTEREST ON THE CERTIFICATE PURCHASE PRICES OF THOSE CERTIFICATES AT THE RATE OF EIGHTEEN PER CENT PER YEAR BEGINNING ON THE DAY ON WHICH THE PAYMENT WAS SUBMITTED BY THE CERTIFICATE HOLDER UNDER DIVISION (A) OF SECTION 5721.36 of the Revised Code AND ENDING ON THE DAY OF THE SALE; AND THE AMOUNTS PAID BY THE CERTIFICATE HOLDER UNDER DIVISIONS (A)(2) AND (3) OF SECTION 5721.36 of the Revised Code;

(C) FOLLOWING THE PAYMENT REQUIRED BY DIVISION (B) OF THIS SECTION, ANY AMOUNT DUE FOR TAXES, ASSESSMENTS, CHARGES, PENALTIES, AND INTEREST NOT COVERED BY THE TAX CERTIFICATE HOLDER'S PAYMENT UNDER DIVISION (A)(2) OF SECTION 5721.36 of the Revised Code SHALL BE PAID, INCLUDING ALL TAXES, ASSESSMENTS, CHARGES, PENALTIES, AND INTEREST PAYABLE SUBSEQUENT TO THE ENTRY OF THE FINDING AND PRIOR TO THE TRANSFER OF THE DEED OF THE PARCEL TO THE PURCHASER FOLLOWING CONFIRMATION OF SALE. IF THE PROCEEDS AVAILABLE FOR DISTRIBUTION PURSUANT TO THIS DIVISION ARE INSUFFICIENT TO PAY THE ENTIRE AMOUNT OF THOSE TAXES, ASSESSMENTS, CHARGES, PENALTIES, AND INTEREST, THE PROCEEDS SHALL BE PAID TO EACH CLAIMANT IN PROPORTION TO THE AMOUNT OF THOSE TAXES, ASSESSMENTS, CHARGES, PENALTIES, AND INTEREST THAT EACH IS DUE, AND THOSE TAXES, ASSESSMENTS, CHARGES, PENALTIES, AND INTEREST ARE DEEMED SATISFIED.

ANY RESIDUE OF MONEY FROM PROCEEDS OF THE SALE SHALL BE DISPOSED OF AS PRESCRIBED BY SECTION 5721.20 OF THE REVISED CODE.

UPON CONFIRMATION OF A SALE, A SPOUSE OF THE PARTY DEFENDANT THEREBY IS BARRED OF THE RIGHT OF DOWER IN THE PROPERTY SOLD, THOUGH THE SPOUSE WAS NOT A PARTY TO THE ACTION.

UNLESS THE PARCEL PREVIOUSLY WAS REDEEMED PURSUANT TO SECTION 5721.25 OR 5721.37 OF THE REVISED CODE, UPON THE FILING OF THE ENTRY OF CONFIRMATION OF SALE, THE TITLE TO THE PARCEL IS INCONTESTABLE IN THE PURCHASER AND IS FREE AND CLEAR OF ALL LIENS AND ENCUMBRANCES, EXCEPT A FEDERAL TAX LIEN NOTICE OF WHICH IS PROPERLY FILED IN ACCORDANCE WITH SECTION 317.09 OF THE REVISED CODE PRIOR TO THE DATE THAT A FORECLOSURE PROCEEDING IS INSTITUTED PURSUANT TO SECTION 5721.36 OF THE REVISED CODE AND THE EASEMENTS AND COVENANTS OF RECORD RUNNING WITH THE LAND OR LOTS THAT WERE CREATED PRIOR TO THE TIME THE TAXES OR ASSESSMENTS, FOR THE NONPAYMENT OF WHICH A TAX CERTIFICATE WAS ISSUED AND THE PARCEL SOLD AT FORECLOSURE, BECAME DUE AND PAYABLE.

THE TITLE SHALL NOT BE INVALID BECAUSE OF ANY IRREGULARITY, INFORMALITY, OR OMISSION OF ANY PROCEEDINGS UNDER THIS CHAPTER, OR IN ANY PROCESSES OF TAXATION, IF SUCH IRREGULARITY, INFORMALITY, OR OMISSION DOES NOT ABROGATE THE PROVISION FOR NOTICE TO HOLDERS OF TITLE, LIEN, OR MORTGAGE TO, OR OTHER INTERESTS IN, SUCH FORECLOSED PARCELS, AS PRESCRIBED IN THIS CHAPTER.

Sec. 5721.39. IF ANY CERTIFICATE PARCEL IS TWICE OFFERED FOR SALE PURSUANT TO SECTION 5721.38 OF THE REVISED CODE AND REMAINS UNSOLD FOR WANT OF BIDDERS, THE OFFICER WHO CONDUCTED THE SALES SHALL CERTIFY TO THE COURT THAT THE PARCEL REMAINS UNSOLD AFTER TWO SALES. THE COURT, BY ENTRY, SHALL ORDER THE PARCEL FORFEITED TO THE CERTIFICATE HOLDER WHO FILED THE REQUEST FOR FORECLOSURE UNDER SECTION 5721.36 OF THE REVISED CODE. THE CLERK OF THE COURT SHALL CERTIFY COPIES OF THE COURT'S ORDER TO THE COUNTY TREASURER. THE COUNTY TREASURER SHALL NOTIFY THE CERTIFICATE HOLDER BY ORDINARY AND CERTIFIED MAIL, RETURN RECEIPT REQUESTED, THAT THE PARCEL REMAINS UNSOLD, AND SHALL INSTRUCT THE CERTIFICATE HOLDER OF THE MANNER IN WHICH THE HOLDER SHALL OBTAIN THE DEED TO THE PARCEL. THE OFFICER WHO CONDUCTED THE SALES SHALL PREPARE AND RECORD THE DEED CONVEYING TITLE TO THE PARCEL TO THE CERTIFICATE HOLDER.

UPON TRANSFER OF THE DEED TO THE CERTIFICATE HOLDER UNDER THIS SECTION, ALL RIGHT, TITLE, CLAIM, AND INTEREST OF THE FORMER OWNER OF THE CERTIFICATE PARCEL IS TRANSFERRED TO AND VESTED IN THE CERTIFICATE HOLDER.

Sec. 5721.40. INTEREST REQUIRED UNDER SECTIONS 5721.30 TO 5721.40 OF THE REVISED CODE IS SIMPLE INTEREST. INTEREST CHARGES UNDER THOSE SECTIONS SHALL BE ENTERED ON A MONTHLY BASIS, ON THE FIRST DAY OF THE MONTH FOLLOWING THE BEGINNING OF THE PERIOD DURING WHICH INTEREST ACCRUES AND ON THE FIRST DAY OF EACH SUBSEQUENT MONTH.