If the assignment for the benefit of creditors, includes real property situated without this state, it is not necessary to have it appraised, but the assignee, or trustee appointed, shall sell such real property at public or private sale, and the sale shall be confirmed, if the court finds that it has been made in good faith for a fair price. At the time of filing the inventory as provided in section 1313.15 of the Revised Code, the assignee or trustee also must file a schedule of all the debts and liabilities of the assignor within his knowledge, which shall be verified by the oath of the assignee or trustee, and contain the post-office address of each of the alleged creditors, so far as this can be given.

Terms Used In Ohio Code 1313.16

  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Property: means real and personal property. See Ohio Code 1.59
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • state: means the state of Ohio. See Ohio Code 1.59
  • Trustee: A person or institution holding and administering property in trust.

  Previous section
Next section  
 Chapter 1313 Contents