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ARTICLE · 25 FEBRUARY 2013

Mortgage Execution Errors: If You Make A Mistake, Try Not To Do It In Ohio

Pepper Hamilton LLP
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Lacy is one more in a long list of cases where an Ohio mortgage was attacked based on defects in execution.

United StatesInsolvency/Bankruptcy/Re-Structuring
Vicki Harding
Vicki Harding

McClatchey v. GMAC Mortgage, LLC (In re Lacy), 483 B.R. 126 (Bankr. S.D. Ohio 2012) –

Lacy is one more in a long list of cases where an Ohio mortgage was attacked based on defects in execution. Although the Ohio statute requires only "substantial compliance" with the statutory execution requirements, mortgages are sometimes avoided based on seemingly trivial technical defects.

The debtor, Mr. Lacy, had executed a valid power of attorney appointing Ms. Iacuzzo as his attorney-in-fact to execute documents in connection with the acquisition and financing of a property. Using the power of attorney, Ms. Iacuzzo executed a mortgage on behalf of Mr. Lacy.

The first page of the mortgage included the following:

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