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Ohio Supreme Court upholds administrative foreclosures

CLEVELAND, June 25, 2020 (AP): The Ohio Supreme Court has ruled that a foreclosure process that sells homes without compensating owners for their equity is legal.

Administrative foreclosure was found to be legal, however, justices did not agree on its reasoning, the Cleveland Plain Dealer reported.

The process sends abandoned properties to the county board of revisions who can send the properties to the local land bank, which can clear debts.

Eye on Ohio previously reported that in Montgomery and Cuyahoga Counties in 2019, local land banks wiped out $11.2 million in tax liens that cost homeowners and banks $77 million in equity.

``The fallacy of all of this is that somehow people's property has been taken. They've abandoned it, they have to pay taxes. You know, you and I have to pay taxes on our properties. And so that somebody doesn't, and now they want to turn around and change the narrative to, 'oh no my property, my valuable property was taken,'' said defense attorney Gus Frangos.

 

 

 
Copyright © 1989 to 2020 by [LaPrensa Publications Inc.]. All rights reserved.
Revised: 06/30/20 21:34:38 -0700.

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