Ohio Code 1313.21 – Duties of assignee or trustee of insolvent debtor
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An assignee or trustee for the benefit of creditors shall convert the assets received by him into money, and shall sell the real and personal property assigned, including stocks and such bonds, notes, and other claims as are not due and which probably cannot be collected within a reasonable time, at public auction, either for cash or upon such other terms as the probate court orders.
Terms Used In Ohio Code 1313.21
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Personal property: All property that is not real property.
- Probate: Proving a will
- Trustee: A person or institution holding and administering property in trust.