New Foreclosure Bill Signed into Law by Strickland

On June 11, 2008, House Bill 138 was signed by Governor Strickland. The legislation becomes effective 90 days after the Governor's office files the approved law with the Ohio Secretary of State, which usually occurs 2 days after the signing date. The new forclosure bill establishes several measures to address the foreclosure crisis in Ohio, makes it easier to determine a property owner after a foreclosure, and requires sheriffs to file deeds with the county recorder within 14 days of a foreclosure sale.

Analyses of the bill prepared for the Ohio House and Senate can be accessed at the links provided below:

• House Analysis


• Senate Analysis

Special credit is owed to Harold L. Hom, Esq. who prepares a summary of new Federal and Ohio laws for the Lorain County Bar Association's Legal Times from which this information was obtained.