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S. B. No. 295 As IntroducedAs Introduced
|127th General Assembly|
Senators Roberts, Miller, R., Morano, Smith
To enact section 5321.20 of the Revised Code to
provide that a rental agreement does not terminate
upon the foreclosure of the landlord's mortgage.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
Section 1. That section 5321.20 of the Revised Code be
enacted to read as follows:
Sec. 5321.20. The foreclosure of a landlord's mortgage does
not, through the operation of law, terminate a rental agreement
with respect to the property that is the subject of the
foreclosure action. Any successor in interest to a property
pursuant to a foreclosure action shall assume that property
interest subject to any rental agreement. After a foreclosure, any
rental agreement remains in effect between the tenant and the
successor in interest to the foreclosed property until the
agreement expires in accordance with its terms or is terminated
due to the occurrence of a condition specified in the agreement.