Ohio Excess Funds List
What do SurplusIndex provide?
Here at SurplusIndex, we managed to build a website and contact directory that might be really helpful for overage recovery agents who intend to work in Ohio as recovery partner. Not only this, we implemented a subscription based lead generation service that will literally bring every property details that is sold in auction. Our service comes with a built in CRM that will allow you to download and manage leads as well as receive routine updates about the sale and availability status.
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Ohio Foreclosure at a glance!
Ohio is a judicial foreclosure area where foreclosure auctions are performed by either Sheriffs department (Online), Treasurer (Lobby) or Private Selling Officers (Online) under the supervision of County Civil Court. It’s one of the most preferred State for recovery agents because of the availability of resources and legal clarity. Ohio claiming process is easier and the quick turnaround time is also a blessing for recovery agents.
Related Statutes for Foreclosure and Surplus Funds
Ohio uses a court-supervised (judicial) foreclosure process. After a foreclosure judgment, the property is sold at a sheriff’s sale. The proceeds from that sale are used to pay: 1. The mortgage debt, 2. Taxes and court fees 3. Other valid liens
If money remains after these obligations are paid, it becomes surplus funds, which are held by the Clerk of the Court.
Application for, and distribution of, surplus money held by the clerk of the court shall be made in accordance with Ohio Revised Code §§ 2329.44 through 2329.52 and the applicable Rules of Court.