❌ HB458
Regards real property foreclosures
Summary
Bill HB458 amends various sections of the Ohio Revised Code related to real property foreclosures, establishing procedures for public auctions of real estate, including the roles of private selling officers and the requirements for appraisals and notices. It specifies conditions under which properties can be sold, including minimum bid requirements and the handling of remote bids. The bill also outlines the responsibilities of the sheriff and private selling officers in conducting these sales.
Rationale
The bill introduces more government regulation into the foreclosure process, which may conflict with Libertarian principles of minimal government intervention and free markets. However, it does allow for private selling officers, which aligns somewhat with the LPO's support for free markets. The mixed elements lead to moderate alignment scores.
Risks and Concerns
- Increased government control over property sales
- Potential for cronyism in the selection of private selling officers
- Restrictions on property owners' rights in foreclosure processes