The online versions of legislation provided on this website are not official. Enrolled bills are the final version passed by the Ohio General Assembly and presented to the Governor for signature. The official version of acts signed by the Governor are available from the Secretary of State's Office in the Continental Plaza, 180 East Broad St., Columbus.
|
S. B. No. 298 As IntroducedAs Introduced
130th General Assembly | Regular Session | 2013-2014 |
| |
A BILL
To amend sections 5721.30, 5721.32, 5721.33, 5721.36,
and 5721.38 of the Revised Code to permit
delinquent property tax certificates for
residential and agricultural property to be sold
only to county land reutilization corporations, to
prohibit such a certificate from being transferred
to any person other than a county land
reutilization corporation, and to authorize a
county land reutilization corporation to accept
from the owner of residential or agricultural
property a redemption payment of one hundred five
per cent of the cost of a certificate at any time
before instituting foreclosure proceedings.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
Section 1. That sections 5721.30, 5721.32, 5721.33, 5721.36,
and 5721.38 of the Revised Code be amended to read as follows:
Sec. 5721.30. As used in sections 5721.30 to 5721.43 of the
Revised Code:
(A) "Tax certificate," "certificate," or "duplicate
certificate" means a document that 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 5721.43 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, including a county
land reutilization corporation, that purchases or otherwise
acquires a tax certificate under section 5721.32, 5721.33, or
5721.42 of the Revised Code, or a person to whom a tax certificate
has been transferred pursuant to section 5721.36 of the Revised
Code.
(D) "Certificate purchase price" means, with respect to the
sale of tax certificates under sections 5721.32, 5721.33, and
5721.42 of the Revised Code, the amount equal to delinquent taxes
charged against a certificate parcel at the time the tax
certificate respecting that parcel is sold or transferred, not
including any delinquent taxes the lien for which has been
conveyed to a certificate holder through a prior sale of a tax
certificate respecting that parcel. Payment of the certificate
purchase price in a sale under section 5721.33 of the Revised Code
may be made wholly in cash or partially in cash and partially by
noncash consideration acceptable to the county treasurer from the
purchaser, and, in the case of a county land reutilization
corporation, with notes. In the event that any such noncash
consideration is delivered to pay a portion of the certificate
purchase price, such noncash consideration may be subordinate to
the rights of the holders of other obligations whose proceeds paid
the cash portion of the certificate purchase price.
"Certificate purchase price" also includes the amount of the
fee charged by the county treasurer to the purchaser of the
certificate under division (H) of section 5721.32 of the Revised
Code.
(E)(1) With respect to a sale of tax certificates under
section 5721.32 of the Revised Code, and except as provided in
division (E)(2) of this section, "certificate redemption price"
means the certificate purchase price plus the greater of the
following:
(a) Simple interest, at the certificate rate of interest,
accruing during the certificate interest period on the certificate
purchase price, calculated in accordance with section 5721.41 of
the Revised Code;
(b) Six per cent of the certificate purchase price.
(2) 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) With respect to a sale or transfer of tax certificates
under section 5721.33 of the Revised Code, "certificate redemption
price" means the amount equal to the sum of the following:
(1) The certificate purchase price;
(2) Interest accrued on the certificate purchase price at the
certificate rate of interest from the date on which a tax
certificate is delivered through and including the day immediately
preceding the day on which the certificate redemption price is
paid;
(3) The fee, if any, charged by the county treasurer to the
purchaser of the certificate under division (J) of section 5721.33
of the Revised Code;
(4) Any other fees charged by any county office in connection
with the recording of tax certificates.
(G) "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, or the
rate of simple interest per year not to exceed eighteen per cent
per year fixed pursuant to section 5721.42 of the Revised Code or
by the county treasurer with respect to any tax certificate sold
or transferred pursuant to a negotiated sale under section 5721.33
of the Revised Code. The certificate rate of interest shall not be
less than zero per cent per year.
(H) "Cash" means United States currency, certified checks,
money orders, bank drafts, electronic transfer of funds, or other
forms of payment authorized by the county treasurer, and excludes
any other form of payment not so authorized.
(I) "The date on which a tax certificate is sold or
transferred," "the date the certificate was sold or transferred,"
"the date the certificate is purchased," and any other phrase of
similar content mean, with respect to a sale pursuant to an
auction under section 5721.32 of the Revised Code, the date
designated by the county treasurer for the submission of bids and,
with respect to a negotiated sale or transfer under section
5721.33 of the Revised Code, the date of delivery of the tax
certificates to the purchasers thereof pursuant to a tax
certificate sale/purchase agreement.
(J) "Certificate interest period" means, with respect to a
tax certificate sold under section 5721.32 or 5721.42 of the
Revised Code and for the purpose of accruing interest under
section 5721.41 of the Revised Code, the period beginning on the
date on which the certificate is purchased and, with respect to a
tax certificate sold or transferred under section 5721.33 of the
Revised Code, the period beginning on the date of delivery of the
tax certificate, and in either case ending on one of the following
dates:
(1) The date the certificate holder files a request for
foreclosure or notice of intent to foreclose under division (A) of
section 5721.37 of the Revised Code and submits the payment
required under division (B) of that section;
(2) The date the owner of record of the certificate parcel,
or any other person entitled to redeem that parcel, redeems the
certificate parcel under division (A) or (C) of section 5721.38 of
the Revised Code or redeems the certificate under section 5721.381
of the Revised Code.
(K) "Qualified trustee" means a trust company within the
state or a bank having the power of a trust company within the
state with a combined capital stock, surplus, and undivided
profits of at least one hundred million dollars.
(L) "Tax certificate sale/purchase agreement" means the
purchase and sale agreement described in division (C) of section
5721.33 of the Revised Code setting forth the certificate purchase
price, plus any applicable premium or less any applicable
discount, including, without limitation, the amount to be paid in
cash and the amount and nature of any noncash consideration, the
date of delivery of the tax certificates, and the other terms and
conditions of the sale, including, without limitation, the rate of
interest that the tax certificates shall bear.
(M) "Noncash consideration" means any form of consideration
other than cash, including, but not limited to, promissory notes
whether subordinate or otherwise.
(N) "Private attorney" means any attorney licensed to
practice law in this state whose license has not been revoked and
is not currently suspended, and who is retained to bring
foreclosure proceedings pursuant to section 5721.37 of the Revised
Code on behalf of a certificate holder.
(O) "Related certificate parcel" means, with respect to a
certificate holder, the certificate parcel with respect to which
the certificate holder has purchased and holds a tax certificate
pursuant to sections 5721.30 to 5721.43 of the Revised Code and,
with respect to a tax certificate, the certificate parcel against
which the tax certificate has been sold pursuant to those
sections.
(P) "Delinquent taxes" means delinquent taxes as defined in
section 323.01 of the Revised Code and includes assessments and
charges, and penalties and interest computed under section 323.121
of the Revised Code.
(Q) "Certificate period" means the period of time after the
sale or delivery of a tax certificate within which a certificate
holder must initiate an action to foreclose the tax lien
represented by the certificate as specified under division (A) of
section 5721.32 of the Revised Code or as negotiated under section
5721.33 of the Revised Code.
(R) "Residential or agricultural property" means a parcel
classified as to use as residential or agricultural property by
the county auditor.
Sec. 5721.32. (A) The sale of tax certificates by public
auction 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, and may specify a certificate period of not less than
three years and not more than six years.
On or after the effective
date of ...B... of the 130th general assembly, a county treasurer
shall not sell a tax certificate under this section to any person
if the certificate parcel is residential or agricultural property.
(B)(1) The sale of tax certificates under this section shall
be conducted at a public auction by the county treasurer or a
designee of the county treasurer.
(2) No person shall be permitted to bid without completing a
bidder registration form, in the form prescribed by the tax
commissioner, and without 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.
(3) The county treasurer may require a person who wishes to
bid on one or more parcels to submit a letter from a financial
institution stating that the bidder has sufficient funds available
to pay the purchase price of the parcels and a written
authorization for the treasurer to verify such information with
the financial institution. The county treasurer may require
submission of the letter and authorization sufficiently in advance
of the auction to allow for verification. No person who fails to
submit the required letter and authorization, or whose financial
institution fails to provide the requested verification, shall be
permitted to bid.
(C) At the public 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. The county treasurer shall decide which person is the
winning bidder in the event of a tie for the lowest bid offered,
or if a person contests the lowest bid offered. The county
treasurer's decision is not appealable.
(D)(1) 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. Except as
provided under division (D)(2) of this section, 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.
(2) At the request of a winning bidder, the county treasurer
may release the bidder from the bidder's tax certificate purchase
obligation. The county treasurer may retain all or any portion of
the deposit of a bidder granted a release. After granting a
release under this division, the county treasurer may award the
tax certificate to the person that submitted the second lowest bid
at the auction.
(3) The county treasurer shall deposit the deposit forfeited
or retained under divisions (D)(1) or (2) of this section 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 the tax certificate and record the tax certificate sale by
entering into a tax certificate register the certificate purchase
price, the certificate rate of interest, the date the certificate
was sold, the certificate period, the name and address of the
certificate holder, and any other information the county treasurer
considers necessary. The county treasurer may keep the tax
certificate register in a hard-copy format or in an electronic
format. The name and address of the certificate holder may be,
upon receipt of instructions from the purchaser, that of the
secured party of the actual purchaser, or an agent or custodian
for the purchaser or secured party. The county treasurer also
shall transfer the tax certificate to the certificate holder. The
county treasurer shall apportion the part of the proceeds from the
sale representing taxes, penalties, and interest among the several
taxing districts in the same proportion that the amount of taxes
levied by each district against the certificate parcel in the
preceding tax year bears to the taxes levied by all such districts
against the certificate parcel in the preceding tax year, and
credit the part of the proceeds representing assessments and other
charges to the items of assessments and charges in the order in
which those items became due. Upon issuing a tax certificate, the
delinquent taxes that make up the certificate purchase price are
transferred, and the superior lien of the state and its taxing
districts for those delinquent taxes 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 sell the
certificate in a negotiated sale authorized under section 5721.33
of the Revised Code, or 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, sections
323.65 to 323.79, or section 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 county treasurer shall set the fee at a
reasonable amount that covers the treasurer's costs of
administering the sale of the tax certificate. The county
treasurer shall deposit the fee in the county treasury to the
credit of the tax certificate administration fund.
(I) After selling a tax certificate under this section, the
county treasurer shall send written notice by certified mail to
the owner of the certificate parcel at the owner's last known
tax-mailing address. The notice shall inform the owner that the
tax certificate was sold, shall describe the owner's options to
redeem the parcel, including entering into a redemption payment
plan under division (C)(1) of section 5721.38 of the Revised Code,
and shall name the certificate holder and its secured party, if
any. However, the county treasurer is not required to send a
notice under this division if the treasurer previously has
attempted to send a notice to the owner of the parcel at the
owner's last known tax-mailing address, and the postal service has
returned the notice as undeliverable.
(J) A tax certificate shall not be sold to the owner of the
certificate parcel.
Sec. 5721.33. (A) A county treasurer may, in the treasurer's
discretion, negotiate the sale or transfer of any number of tax
certificates with one or more persons, including a county land
reutilization corporation. On or after the effective date of ...
B... of the 130th general assembly, a county treasurer shall not
negotiate the sale or transfer of a tax certificate under this
section with any person except a county land reutilization
corporation if the certificate parcel is residential or
agricultural property. Terms that may be negotiated include,
without limitation, any of the following:
(1) A premium to be added to or discount to be subtracted
from the certificate purchase price for the tax certificates;
(2) Different time frames under which the certificate holder
may initiate a foreclosure action than are otherwise allowed under
sections 5721.30 to 5721.43 of the Revised Code, not to exceed six
years after the date the tax certificate was sold or transferred;
(3) The amount to be paid in private attorney's fees related
to tax certificate foreclosures, subject to section 5721.371 of
the Revised Code;
(4) Any other terms of the sale or transfer that the county
treasurer, in the treasurer's discretion, determines appropriate
or necessary for the sale or transfer.
(B) The sale or transfer of tax certificates under this
section shall be governed by the criteria established by the
county treasurer pursuant to division (E) of this section.
(C) The county treasurer may execute a tax certificate
sale/purchase agreement and other necessary agreements with a
designated purchaser or purchasers to complete a negotiated sale
or transfer of tax certificates.
(D) The tax certificate may be sold at a premium to or
discount from the certificate purchase price. The county treasurer
may establish as one of the terms of the negotiated sale the
portion of the certificate purchase price, plus any applicable
premium or less any applicable discount, that the purchaser or
purchasers shall pay in cash on the date the tax certificates are
sold and the portion, if any, of the certificate purchase price,
plus any applicable premium or less any applicable discount, that
the purchaser or purchasers shall pay in noncash consideration and
the nature of that consideration.
The county treasurer shall sell such tax certificates at a
certificate purchase price, plus any applicable premium and less
any applicable discount, and at a certificate rate of interest
that, in the treasurer's determination, are in the best interests
of the county.
(E)(1) The county treasurer shall adopt rules governing the
eligibility of persons to purchase tax certificates or to
otherwise participate in a negotiated sale under this section. The
rules may provide for precertification of such persons, including
a requirement for disclosure of income, assets, and any other
financial information the county treasurer determines appropriate.
The rules also may prohibit any person that is delinquent in the
payment of any tax to the county or to the state, or that is in
default in or on any other obligation to the county or to the
state, from purchasing a tax certificate or otherwise
participating in a negotiated sale of tax certificates under this
section. The rules may also authorize the purchase of certificates
by a county land reutilization corporation, and authorize the
county treasurer to receive notes in lieu of cash, with such notes
being payable to the treasurer upon the receipt or enforcement of
such taxes, assessments, charges, costs, penalties, and interest,
and as otherwise further agreed between the corporation and the
treasurer. The eligibility information required shall include the
tax identification number of the purchaser and may include the tax
identification number of the participant. The county treasurer,
upon request, shall provide a copy of the rules adopted under this
section.
(2) Any person that intends to purchase a tax certificate in
a negotiated sale shall submit an affidavit to the county
treasurer that establishes compliance with the applicable
eligibility criteria and includes any other information required
by the treasurer. Any person that fails to submit such an
affidavit is ineligible to purchase a tax certificate. Any person
that knowingly submits a false or misleading affidavit shall
forfeit any tax certificate or certificates purchased by the
person at a sale for which the affidavit was submitted, shall be
liable for payment of the full certificate purchase price, plus
any applicable premium and less any applicable discount, of the
tax certificate or certificates, and shall be disqualified from
participating in any tax certificate sale conducted in the county
during the next five years.
(3) A tax certificate shall not be sold to the owner of the
certificate parcel or to any corporation, partnership, or
association in which such owner has an interest. No person that
purchases a tax certificate in a negotiated sale shall assign or
transfer the tax certificate to the owner of the certificate
parcel or to any corporation, partnership, or association in which
the owner has an interest. Any person that knowingly or
negligently transfers or assigns a tax certificate to the owner of
the certificate parcel or to any corporation, partnership, or
association in which such owner has an interest shall be liable
for payment of the full certificate purchase price, plus any
applicable premium and less any applicable discount, and shall not
be entitled to a refund of any amount paid. Such tax certificate
shall be deemed void and the tax lien sold under the tax
certificate shall revert to the county as if no sale of the tax
certificate had occurred.
(F) The purchaser in a negotiated sale under this section
shall deliver the certificate purchase price or other
consideration, plus any applicable premium and less any applicable
discount and including any noncash consideration, to the county
treasurer not later than the close of business on the date the tax
certificates are delivered to the purchaser. The certificate
purchase price, less any applicable discount, or portion of the
price, that is paid in cash shall be deposited in the county's
general fund to the credit of the account to which ad valorem real
property taxes are credited and further credited as provided in
division (G) of this section. Any applicable premium that is paid
shall be, at the discretion of the county treasurer, apportioned
to and deposited in any authorized county fund. The purchaser also
shall pay on the date the tax certificates are delivered to the
purchaser the fee, if any, negotiated under division (J) of this
section. If the purchaser fails to pay the certificate purchase
price, plus any applicable premium and less any applicable
discount, and any such fee, within the time periods required by
this section, the county treasurer shall retain the tax
certificate and may attempt to sell it at any auction or
negotiated sale conducted at a later date.
(G) Upon receipt of the full payment from the purchaser of
the certificate purchase price or other agreed-upon consideration,
plus any applicable premium and less any applicable discount, and
the negotiated fee, if any, the county treasurer, or a qualified
trustee whom the treasurer has engaged for such purpose, shall
issue the tax certificate and record the tax certificate sale by
entering into a tax certificate register the certificate purchase
price, any premium paid or discount taken, the certificate rate of
interest, the date the certificates were sold, the name and
address of the certificate holder or, in the case of issuance of
the tax certificates in a book-entry system, the name and address
of the nominee, and any other information the county treasurer
considers necessary. The county treasurer may keep the tax
certificate register in a hard-copy format or an electronic
format. The name and address of the certificate holder or nominee
may be, upon receipt of instructions from the purchaser, that of
the secured party of the actual purchaser, or an agent or
custodian for the purchaser or secured party. The county treasurer
also shall transfer the tax certificates to the certificate
holder. The county treasurer shall apportion the part of the cash
proceeds from the sale representing taxes, penalties, and interest
among the several taxing districts in the same proportion that the
amount of taxes levied by each district against the certificate
parcels in the preceding tax year bears to the taxes levied by all
such districts against the certificate parcels in the preceding
tax year, and credit the part of the proceeds representing
assessments and other charges to the items of assessments and
charges in the order in which those items became due. If the cash
proceeds from the sale are not sufficient to fully satisfy the
items of taxes, assessments, penalties, interest, and charges on
the certificate parcels against which tax certificates were sold,
the county treasurer shall credit the cash proceeds to such items
pro rata based upon the proportion that each item of taxes,
assessments, penalties, interest, and charges bears to the
aggregate of all such items, or by any other method that the
county treasurer, in the treasurer's sole discretion, determines
is equitable. Upon issuing the tax certificates, the delinquent
taxes that make up the certificate purchase price are transferred,
and the superior lien of the state and its taxing districts for
those delinquent taxes is conveyed intact to the certificate
holder or holders.
(H) 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.
(I) Neither a certificate holder nor its secured party, if
any, shall 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.
(J) When selling or transferring a tax certificate under this
section, the county treasurer may negotiate with the purchaser of
the certificate for fees paid by the purchaser to the county
treasurer to reimburse the treasurer for any part or all of the
treasurer's costs of preparing for and administering the sale of
the tax certificate and any fees set forth by the county treasurer
in the tax certificate sale/purchase agreement. Such fees, if any,
shall be added to the certificate purchase price and shall be paid
by the purchaser on the date of delivery of the tax certificate.
The county treasurer shall deposit the fees in the county treasury
to the credit of the tax certificate administration fund.
(K) After selling tax certificates under this section, the
county treasurer shall send written notice by certified mail to
the last known tax-mailing address of the owner of the certificate
parcel. The notice shall inform the owner that a tax certificate
with respect to such owner's parcel was sold or transferred and
shall describe the owner's options to redeem the parcel, including
entering into a redemption payment plan under division (C)(2) of
section 5721.38 of the Revised Code. However, the county treasurer
is not required to send a notice under this division if the
treasurer previously has attempted to send a notice to the owner
of the parcel at the owner's last known tax-mailing address and
the postal service has returned the notice as undeliverable.
Sec. 5721.36. (A)(1) Except as otherwise provided in
division (A)(2) of this section, the purchaser of a tax
certificate sold as part of a block sale pursuant to section
5721.32 of the Revised Code may transfer the certificate to any
person, and any other purchaser of a tax certificate pursuant to
section 5721.32 or 5721.33 of the Revised Code may transfer the
certificate to any person, except the owner of the certificate
parcel or any corporation, partnership, or association in which
such owner has an interest. The transferee of a tax certificate
subsequently may transfer the certificate to any other person to
whom the purchaser could have transferred the certificate. 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 notarized copy of a valid
form of identification showing the transferee's taxpayer
identification number to the county treasurer of the county where
the certificate is registered, 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, the date of entry, and, upon presentation to the
treasurer of instructions signed by the transferee, the name and
address of any secured party of the transferee having an interest
in the tax certificate. The treasurer shall deposit the fee in the
county treasury to the credit of the tax certificate
administration fund.
Except as otherwise provided in division (A)(2) of this
section, no request for foreclosure or notice of intent to
foreclose, as the case may be, shall be filed by any person other
than the person shown on the tax certificate register to be the
certificate holder or a private attorney for that person properly
authorized to act in that person's behalf.
A county land reutilization corporation may not transfer or
assign a tax certificate under this section if the corporation
purchased the certificate on or after the effective date of
...B... of the 130th general assembly if the certificate parcel is
residential or agricultural property.
(2) Upon registration of a security interest with the county
treasurer, both of the following apply:
(a) No purchaser or transferee of a tax certificate, other
than a county land reutilization corporation, may transfer that
tax certificate except upon presentation to the treasurer of
instructions signed by the secured party authorizing such action.
A county land reutilization corporation may transfer or assign tax
certificates consistent with its public purposes and plan adopted
pursuant to Chapter 1724. of the Revised Code.
(b) Only the secured party may issue a request for
foreclosure or notice of intent to foreclose concerning that tax
certificate.
(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. The treasurer shall
deposit the fee in the county treasury to the credit of the tax
certificate administration fund.
(2) The duplicate certificate shall be plainly marked or
stamped "duplicate."
(3) The treasurer shall enter the fact of the duplicate in
the tax certificate register.
Sec. 5721.38. (A) At any time prior to payment to the county
treasurer by the certificate holder to initiate foreclosure
proceedings under division (B) of section 5721.37 of the Revised
Code, 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.
(B) At any time after payment to the county treasurer by the
certificate holder to initiate foreclosure proceedings under
section 5721.37 of the Revised Code, and before the filing of the
entry of confirmation of sale of a certificate parcel, or the
expiration of the alternative redemption period defined in section
323.65 of the Revised Code under foreclosure proceedings filed by
the county prosecuting attorney, and before the decree conveying
title to the certificate holder is rendered as provided for in
division (F) of section 5721.37 of the Revised Code, 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 sum of the following amounts:
(1) The amount described in division (A) of this section;
(2) 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 and ending on the
day the parcel is redeemed under this division;
(3) An amount equal to the sum of the county prosecuting
attorney's fee under division (B)(3) of section 5721.37 of the
Revised Code plus interest on that amount at the rate of eighteen
per cent per year beginning on the day on which the payment was
submitted by the certificate holder and ending on the day the
parcel is redeemed under this division. If the parcel is redeemed
before the complaint has been filed, the prosecuting attorney
shall adjust the fee to reflect services performed to the date of
redemption, and the county treasurer shall calculate the interest
based on the adjusted fee and refund any excess fee to the
certificate holder.
(4) Reasonable attorney's fees in accordance with section
5721.371 of the Revised Code if the certificate holder retained a
private attorney to foreclose the lien;
(5) Any other costs and fees of the proceeding allocable to
the certificate parcel as determined by the court or board of
revision.
The county treasurer may collect the total amount due under
divisions (B)(1) to (5) of this section in the form of guaranteed
funds acceptable to the treasurer. Immediately upon receipt of
such payments, the county treasurer shall reimburse the
certificate holder who initiated foreclosure proceedings as
provided in division (D) of this section. The county treasurer
shall pay the certificate holder interest at the rate of eighteen
per cent per year on amounts paid under divisions (B)(2) and (3)
of section 5721.37 of the Revised Code, beginning on the day the
certificate holder paid the amounts under those divisions and
ending on the day the parcel is redeemed under this section.
(C)(1) During the period beginning on the date a tax
certificate is sold under section 5721.32 of the Revised Code and
ending one year from that date, the county treasurer may enter
into a redemption payment plan with the owner of record of the
certificate parcel or any other person entitled to redeem that
parcel. 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. The certificate
holder may at any time, by written notice to the county treasurer,
agree to accept installments collected to the date of notice as
payment in full. Receipt of such notice by the treasurer shall
constitute satisfaction of the payment plan and redemption of the
tax certificate.
(2) During the period beginning on the date a tax certificate
is sold under section 5721.33 of the Revised Code and ending on
the date the decree is rendered on the foreclosure proceeding
under division (F) of section 5721.37 of the Revised Code, 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 certificate holder and all secured parties
of the certificate holder. The plan shall require the owner or
other person to pay the certificate redemption price for the tax
certificate, an administrative fee not to exceed one hundred
dollars per year, and the actual fees and costs incurred, in
installments, with the final installment due no later than the
expiration of the certificate period. The certificate holder shall
give written notice of the plan to the applicable county treasurer
within sixty days after entering into the plan and written notice
of default under the plan within ninety days after the default. If
such a plan is entered into, the time period for filing a request
for foreclosure or a notice of intent to foreclose under section
5721.37 of the Revised Code is extended by the length of time the
plan is in effect and not in default.
(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,
credit the payment to the tax certificate redemption fund created
in the county treasury, and shall notify the certificate holder or
holders by ordinary first class or certified mail or by binary
means that the parcel has been redeemed and the lien or liens
canceled, and that payment on the certificate or certificates is
forthcoming. The treasurer shall pay the tax certificate holder or
holders promptly.
The county treasurer shall administer the tax certificate
redemption fund for the purpose of redeeming tax certificates.
Interest earned on the fund shall be credited to the county
general fund. If the county has established a county land
reutilization corporation, the county treasurer may apply interest
earned on the fund to the payment of the expenses of such
corporation.
(2) If a redemption payment plan is entered into pursuant to
division (C)(1) of this section, the county treasurer immediately
shall notify each certificate holder by ordinary first class or
certified mail or by binary means 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 deposited into the general fund of the
county. If the county has established a county land reutilization
corporation, the county treasurer may apply such overpayment to
the payment of the expenses of the corporation.
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 ordinary
first class or certified mail or by binary means that the plan has
been satisfied and that payment on the certificate or certificates
is forthcoming. The treasurer shall pay each certificate holder
promptly.
If a redemption payment plan becomes void, the county
treasurer shall notify each certificate holder by ordinary first
class or certified mail or by binary means. If a certificate
holder files a request for foreclosure under section 5721.37 of
the Revised Code, upon the filing of the request for foreclosure,
any money paid under the plan shall be refunded to the person that
paid the money under the plan.
(3) Upon receipt of the payment required under division
(B)(1) of section 5721.37 of the Revised Code, the treasurer shall
pay all other certificate holders and indicate in the tax
certificate register that such certificates have been satisfied.
If a county has organized a county land reutilization corporation,
the county treasurer may apply the redemption price and any
applicable interest payable under division (B) of this section to
the payment of the expenses of the corporation.
(E) At any time before a certificate holder that is a county
land reutilization corporation institutes a foreclosure action as
authorized under section 5721.37 of the Revised Code, the owner of
record of a certificate parcel that is residential or agricultural
property may offer to pay the county land reutilization
corporation an amount equal to one hundred five per cent of the
total of the certificate purchase prices, net of any premium or
discount, of all tax certificates held by the county land
reutilization corporation respecting that parcel.
If the certificate holder accepts the offer, the certificate
holder shall notify the county treasurer immediately upon the
certificate holder's receipt of the full payment from the parcel
owner of record and pay to the county treasurer any amount due to
the treasurer for the sale or transfer of those tax certificates,
including amounts due on any notes described in division (E)(1) of
section 5721.33 of the Revised Code. Immediately upon the county
treasurer's receipt of the notification and payment, if any, from
a certificate holder, the county treasurer shall do all of the
following:
(1) Make an entry of the amount paid to the certificate
holder in the tax certificate register;
(2) Credit any portion of the payment received by the county
treasurer that is required to be credited to the county's tax
certificate administration fund under division (J) of section
5721.33 of the Revised Code to that fund, and credit any portion
that is required to be credited to the tax certificate redemption
fund to pay certificate holders;
(3) Credit any remaining portion of the payment received by
the treasurer to the county treasury for distribution among the
several taxing districts in proportion to each district's claim on
the taxes or assessments levied against the related certificate
parcel for the preceding tax year;
(4) Notify the certificate holder that the parcel has been
redeemed and the lien or liens canceled.
Section 2. That existing sections 5721.30, 5721.32, 5721.33,
5721.36, and 5721.38 of the Revised Code are hereby repealed.
|
|