Analysis of Ohio's Amended Receivership Law | Page 17

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and set aside the sale. The liens (except for the county treasurer’s
lien) transfer to the proceeds in the hands of the Receiver. (R.C. §
2735.04(D)(8)(c))
Closing and Deed
Upon closing, the Receiver is to execute a Receiver’s deed. (R.C.
§ 2735.04(D)(9)) The deed has the effect of a deed under R.C. §
2329.37, meaning that the deed is prima facie evidence of the legality
and regularity of the sale, and the entire interest of the owner is
vested in the purchaser. Id. Upon recording of the Receiver’s deed,
the liens are to be canceled as to the real property and transferred to
the sale proceeds in the same priority as the liens had attached to the
real property. (R.C. § 2735.04(D)(3)(b))
Post-Closing Report of Private Sale
As soon as reasonably possible after closing of a private sale under
Section 2735.04(D)(2)(a)(ii) (such that no separate confirmation
of the sale is required as provided by Section 2735.04(D)(5)), the
Receiver is to file and serve upon the Notice Parties a certificate and
report of sale, certifying:
• that the sale was conducted in accordance with the order
authorizing the sale;
• the sale date;
• the purchaser’s name;
• the amount of net proceeds after payment of sale expenses;
• a copy of any closing statement that was prepared; and

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