Hausman v. Dayton

[This opinion has been published in Ohio Official Reports at 73 Ohio St.3d 671.] HAUSMAN ET AL., APPELLEES AND CROSS-APPELLANTS; BANCOHIO NATIONAL BANK, APPELLEE AND CROSS-APPELLEE, v. CITY OF DAYTON, APPELLANT AND CROSS-APPELLEE. [Cite as Hausman v. Dayton,

1995-Ohio-277.] Real property—Effect of default by mortgagor on legal title—Right of redemption is the mortgagor’s right to take prescribed action to satisfy a debt secured by a mortgage and therefore cannot be construed as a “setoff,” 1. After a mortgagor defaults, legal title passes to the mortgagee only as between the mortgagor and the…