If the sum bid by the purchaser for the real estate sold under section 2329.20 of the Revised Code relating to the enforcement of junior liens is insufficient to pay the costs allowances, and taxes, which the court has determined prior to such sale should be paid out of the proceeds thereof, pursuant to the terms of the mortgage or lien sought to be enforced, then the purchaser, in addition to the amount of the purchaser's bid, must pay a sum which, with the amount so bid will be sufficient to pay the costs , allowances, and taxes. The court may fix the amount remaining unpaid on such claims or obligations for the purpose of the sale, and to that end require the parties to the suit to furnish to it satisfactory evidence of such unpaid amount. The advertisement for the sale of real estate sold under section 2329.20 of the Revised Code shall state that the purchaser shall be responsible for those costs, allowances, and taxes that the proceeds of the sale are insufficient to cover.
Amended by 131st General Assembly File No. TBD, HB 390, §101.01, eff. 9/28/2016.
Effective Date: 10-01-1953 .