Gus Frangos Act revises tax certificate sales and foreclosure procedures.

The Gus Frangos Act revises procedures for the sale of tax certificates and the foreclosure of abandoned land in Ohio. It allows county treasurers to sell tax certificates at public auctions or through negotiated sales. It mandates the publication of delinquent tax lists and the notification of affected parties. The act also outlines the conditions under which a sale or transfer of abandoned land can be rejected or voided. It specifies the distribution of proceeds from such sales and transfers, prioritizing the payment of costs and taxes before any surplus is distributed.

Gus Frangos Act revises tax certificate sales and foreclosure procedures.

The Gus Frangos Act revises procedures for the sale of tax certificates and the foreclosure of abandoned land in Ohio. It allows county treasurers to sell tax certificates at public auctions or through negotiated sales. It mandates the publication of delinquent tax lists and the notification of affected parties. The act also outlines the conditions under which a sale or transfer of abandoned land can be rejected or voided. It specifies the distribution of proceeds from such sales and transfers, prioritizing the payment of costs and taxes before any surplus is distributed.