Bill Reducing Ohio’s Statute of Limitations Raises Concerns for Creditors

by Michael Lewis Michael Lewis

Introduced May 21, Ohio H.B. 251[1] has been referred to the House’s Civil Justice Committee. This bill is essentially a re-introduction of the previously withdrawn H.B. No. 694 from May 2018.[2] H.B. 694 was withdrawn from committee consideration in early December 2018. KWA previously reported on this in January.[3]

H.B. 251 would amend R.C. 2305.06 and R.C. 2305.07 by reducing the statute of limitation on written contracts from eight (8) years to three (3) years and from six (6) years to three (3) years on non-written contracts. Section 4 of the bill mandates for written or non-written contracts that, “the period of limitations for causes of action would be three years from the bill’s effective dates, or the expiration of the period of limitations that was in effect prior to the bill’s effective dates, whichever occurs first.” Read more

Ohio House Bill 694 Proposes Shortening of Statute of Limitations

by Stacie Hackel Snow Stacie Hackel Snow

Creditors should keep a watchful eye on the state capital this new year, as there may be a significant updates to Ohio Revised Codes §2305.06 and 2305.07.  On May 22, 2018, Rep. George Lang introduced House Bill 694, which proposes to shorten the statute of limitations for all contracts.  Co-sponsors of the bill include: Rep. Reineke, Rep. Riedel, Rep. Romanchuk, and Rep. Becker. Read more

Update Regarding Title Report Showdown in Cuyahoga County

by Lee Cuilli Lee Cuilli

Last November our office sent a bulletin advising of a dispute regarding title report endorsements that arose in Cuyahoga County. At that time, the Ohio Title Insurance Ratings Bureau announced a change to its policy regarding judicial title report forms and strictly forbid the use of title report endorsements previously used in Cuyahoga County.

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Cuyahoga County, Ohio Judge Nancy Margaret Russo Requires Property Status Report

by Lee Cuilli Lee Cuilli

Cuyahoga County Common Pleas Judge Nancy Margaret Russo recently implemented a new policy requiring something called a Property Status Report Form (“PSRF”) be filed in every foreclosure assigned to her docket. The PSRF was prepared by Judge Russo and has been circulated to creditors’ foreclosure counsel. A copy of the same is included as an attachment to this Bulletin. Failure to file a completed PSRF within twenty (20) days of the filing of the foreclosure may result in a dismissal without prejudice.

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