Regards real property foreclosures

HB 632 modifies the rules for conducting public auctions of real estate and personal property in Ohio to increase transparency and reduce potential conflicts of interest. The bill requires that land auctions be managed by independent private selling officers who are not affiliated with the lender or mortgage servicer, while allowing courts to approve these officers in specific cases. It also introduces new provisions for submitting remote bids via fax or email before the auction and allows lenders to postpone sales up to three times within 180 days. Additionally, the legislation establishes a process for lienholders to object to the use of a private selling officer if they believe a sheriff-led sale would better protect their financial interests.