2109.20 Guardian may give real estate mortgage to secure bond. - Ohio Statutes

2109.20 Guardian may give real estate mortgage to secure bond.

Instead of the sureties required on his bond by section 2109.04 of the Revised Code, a guardian of the person and estate or of the estate only of any ward may execute to the ward a mortgage upon unencumbered real estate. The guardian first shall furnish to the probate court a title guarantee or a mortgagee’s title insurance policy for the benefit of the guardianship, with respect to the real estate, and it shall be shown to the court’s satisfaction that, exclusive of improvements on the real estate, the real estate is of a value sufficient to secure the bond. The mortgage shall be recorded in the county in which the property is situated and filed with the court.

Effective Date: 10-08-1992