Section 5303.31 | Estates may be leased.
(A) Upon like proceedings as for the sale of an estate described in section 5303.21 of the Revised Code, but subject to division (B) of this section, the court of common pleas may direct that such estate be leased for a term of years, renewable or otherwise, with or without an option on the part of the lessee to purchase the estate leased, as appears most beneficial, and on such terms as appear just and equitable. The rents and profits shall be paid to the person who might otherwise be entitled to the use and occupancy of the estate or the income of it.
(B) If an estate is held in trust and if the trustee is authorized by the trust instrument of lease real property, a court of common pleas shall not direct pursuant to division (A) of this section that the estate be leased unless the trustee consents to the lease.
Available Versions of this Section
- October 14, 1983 – Senate Bill 115 - 115th General Assembly [ View October 14, 1983 Version ]