Ohio § 2109.46
Full text of Ohio Ohio Revised Code § 2109.46, with citation guidance and answers to common questions.
§ 2109.46.
When it appears to be for the best interests of the entrusted estate, a fiduciary
other than an executor or administrator may, with the approval of the probate court,
borrow money and mortgage real property belonging to the entrusted estate, whether
the real property was acquired by purchase or by descent and distribution. The fiduciary proposing to borrow money shall file in the probate court that appointed
the fiduciary a complaint describing all of the real property in the trust and stating
the nature and amount of the encumbrances on that real property, the date those encumbrances
became or will become due, and the rate of interest on those encumbrances. The complaint shall also contain a statement of the personal property in the trust,
the income from the personal property, and the income from the real property in the
trust. The complaint if filed by a guardian shall state the names, ages, and residences
of the ward and next of kin known to be a resident of this state, including the spouse
of the ward and persons holding liens on the real property unless the liens will be
extinguished, all of whom shall be made defendants and be notified of the pendency
and prayer of the complaint in the manner that the court directs. In addition, the complaint shall contain a statement of the nature of the incompetency
or incapacity, if any, of the ward, whether temporary or confirmed and its duration. Except as provided in this section, the defendants and notice to the defendants
shall be the same as though the real property proposed to be mortgaged were being
sold by the fiduciary. The complaint shall set forth the purpose of the loan, the amount required for the
loan, and any other facts that may be pertinent to the question whether the money
should be borrowed and shall contain a prayer that the fiduciary be authorized to
mortgage so much of the ward's lands as may be necessary to secure the loan. Upon the filing of the complaint, the proceedings as to pleadings and proof shall
be the same as on a complaint to sell real property belonging to the trust.
Frequently Asked Questions About Ohio § 2109.46
What does Ohio Revised Code § 2109.46 cover?
Section 2109.46 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 2109.46?
A common citation format is "Ohio Revised Code § 2109.46" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 2109.46 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.