2006 Ohio Revised Code - 5722.13. Land offered for sale after fifteen years.

§ 5722.13. Land offered for sale after fifteen years.
 

Real property acquired and held by an electing subdivision pursuant to this chapter that is not sold or otherwise transferred within fifteen years after such acquisition shall be offered for sale at public auction during the sixteenth year after acquisition. If the real property is not sold at that time, it shall be offered every three years thereafter until it is sold. 
 

Notice of the sale shall contain a description of each parcel, the permanent parcel number, and the full street address when available. The notice shall be published once a week for three consecutive weeks prior to the sale in a newspaper of general circulation within the electing subdivision. 
 

Each parcel subsequent to the fifteenth year after its acquisition as part of a land reutilization program shall be sold for an amount equal to not less than the greater of: 

(A) Two-thirds of its fair market value; 

(B) The total amount of accrued taxes, assessments, penalties, interest, charges, and costs incurred by the electing subdivision in the acquisition, maintenance, and disposal of each parcel and the parcel's share of the costs and expenses of the land reutilization program. 
 

HISTORY: 136 v H 1327 (Eff 9-27-76); 139 v H 379 (Eff 9-21-82); 143 v H 557. Eff 4-5-91.