2006 Ohio Revised Code - 2329.20. Land not to be sold for less than two thirds of appraised value.

§ 2329.20. Land not to be sold for less than two thirds of appraised value.
 

No tract of land shall be sold for less than two thirds of the value returned in the inquest required by section 2329.17 of the Revised Code; except that in all cases where a junior mortgage or other junior lien is sought to be enforced against real estate by an order, judgment, or decree of court, subject to a prior lien thereon, and such prior lien, and the claims or obligations secured thereby, are unaffected by such order, judgment, or decree, the court making such order, judgment, or decree, may determine the minimum amount for which such real estate may be sold, such minimum amount to be not less than two thirds of the difference between the value of the real estate appraised as provided in such section, and the amount remaining unpaid on the claims or obligations secured by such prior lien. 
 

HISTORY: RS § 5391; S&C 1073; 51 v 57, § 434; 93 v 284; GC § 11675; Bureau of Code Revision. Eff 10-1-53.