Analysis of Ohio's Amended Receivership Law | Page 11

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that the Receiver must adhere to a budget approved by the court
and that any non-budgeted expenses are subject to the express prior
consent of the lender.

Sales of Property Free and Clear of Liens
Section 2735.04(D) contains a detailed set of provisions that will
govern a Receiver’s sale of real and/or personal property free and
clear of liens.
Provisions Applicable to Sales Free and Clear of Liens – Real and/
or Personal Property
If the sale, whether of real estate and/or personal property, is to be
free and clear of liens, the sale is subject to the court’s approval
and supervision, and all requirements of Section 2735.04 must be
complied with. (R.C. § 2735.04(D)(1)(a))
Methods of Sale
The following methods of sale are authorized (R.C. § 2735.04(D)
(1)(a)):
• Private sale pursuant to a written contract between the
Receiver and the prospective purchaser;
• Private auction;
• Public auction (note that if the sale is by public or private
auction, the court may establish a minimum bid, R.C. §
2735.04(D)(1)(b)); and

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