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Section 5301.233 | Mortgage may secure unpaid balances of advances made.

In a mortgage assignment, your original lender or servicer transfers your mortgage account to another loan servicer. When this occurs, the original mortgagee or lender's interests go to the next lender. Even if your mortgage gets transferred or assigned, your mortgage's terms should remain the same.

Ohio law consists of the Ohio Constitution, the Ohio Revised Code and the Ohio Administrative Code. The Constitution is the state's highest law superseding all others. The Revised Code is the codified law of the state while the Administrative Code is a compilation of administrative rules adopted by state agencies.

Statutory condition is defined in Section 5302.14 of the Revised Code and provides generally that if the mortgagor pays the principal and interest secured by this mortgage, performs the other obligations secured hereby and the conditions of any prior mortgage, pays all the taxes and assessments, maintains insurance ...

Before a bank can institute a foreclosure proceeding, the bank must record the assignment of the note. The bank must also be in actual possession of the note. If the bank fails to ?produce the note,? that is, cannot demonstrate that the note was assigned to it, the bank cannot demonstrate it owns the note.

Agricultural land, pending sale or disposition, shall not be used for any purpose other than agriculture, and the land shall not be used for agriculture under lease to an individual, trust, corporation, partnership, or other business entity subject to the restrictions under division (B)(1) of this section.