Legal Question in Real Estate Law in Ohio
property transfer
when does ownership change hands in a forclosure, at time of sale or at recording,and what is the period of redemption after forclosure,and its requirments,our house was sold back to bank on 22,house burned down on 2nd transfer has not been recorded, who owns and what are my options,my insurance may not pay based on ownership
1 Answer from Attorneys
Re: property transfer
Dear Property Owner: In Ohio title and ownership of real property under decree of foreclosure, ordered by the Court and sold by the Sheriff at public sale, transfers on the date of public sale, regardless of the date of recording. The law in Ohio is specific:
" ***BY THE COURT
***The general doctrine relating to the effect of the confirmation of a judicial sale is that it relates back to the day of sale and passes a title as of that day. The deed executed pursuant to the order of confirmation by relation takes effect as of the day of sale. This is the established doctrine in Ohio. Lessee of Boyd v. Longworth, 11 Ohio, 236; Oviatt v. Brown, 14 Ohio, 286.
***
JASHENOSKY v. VOLRATH. (1899), 59 Ohio St. 540.
Please contact an experienced real estate attorney to represent your rights and interests. Good luck.Sincerely, J. Norman Stark, Cleveland, Ohio
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