Section 703.373 - Disposition of property; dissolution into two or more townshipsDuring the transition period, the dissolved village's real and personal property shall be disposed of by the receiver-trustee as follows:
(A) The receiver-trustee shall dispose of the village's liquidable assets, as necessary, to use the proceeds to pay the outstanding debts, obligations, and liabilities of the dissolved village.(B) The receiver-trustee shall transfer real or personal property related to utility services as provided under section 703.374 of the Revised Code.(C) The receiver-trustee shall facilitate the transfer of the remaining real and personal property to the township or townships into which the village dissolved, as follows: (1)(a) If a village is dissolved into one township, the remaining real and personal property vests by operation of law in the township.(b) If a village is dissolved into two or more townships, the receiver-trustee shall direct the townships to enter into an agreement regarding the distribution of the real and personal property not later than sixty days after the date the dissolution is effective. During that timeframe, the receiver-trustee shall assist the townships in evaluating the dissolved village's real and personal property as necessary. If the townships are not able to enter into an agreement during that timeframe, the receiver-trustee shall decide the distribution of the property to the townships.(2) The receiver-trustee shall record one of the following with the county recorder of the county where an affected parcel of real property is located, along with one or more affidavits stating facts relating to the title as provided for in section 5301.252 of the Revised Code:(a) A list of real property that vests by operation of law under this division;(b) An agreement entered into under this division;(c) The receiver-trustee's distribution in lieu of an agreement under this division.(3) The county recorder shall make appropriate notations in the county records to reflect a transfer under this section. The notations shall include a reference to the county's recorded certificate of dissolution. The recording of a certificate of dissolution or a certified copy thereof, an item recorded under division (C)(2)(a), (b), or (c) of this section, and supporting affidavits serve as sufficient evidence of a transfer of title from the dissolved village to a township or townships. The documents shall be recorded in the same manner as a deed of conveyance, except the receiver-trustee and the affected township or townships are exempt from any fees specified under section 317.32 of the Revised Code.Added by 135th General Assembly, HB 101,§101.01, eff. 4/30/2024.