Markovits, Stock & DeMarco, LLC, on behalf of Plaintiff Frank Morano, filed an Ohio class action lawsuit against Fifth Third Bancorp for failing to timely file mortgage releases in violation of Revised Code Section 5301.36.
The class action complaint alleges that Fifth Third filed a mortgage release relating to the plaintiff’s former property more than 90 days after he satisfied the mortgage (i.e. paid it off). Plaintiff Morano filed the complaint on behalf of himself and all other Ohio mortgagors or current owners for whom Fifth Third failed to timely file mortgage releases. Under Ohio law, the failure of the mortgagee to file the mortgage release within 90 days of the mortgage being satisfied permits the mortgagor (borrower) and the current owner of the property to collect a $250.00 statutory damage.
Access a copy of the class action complaint here and the case caption is Morano v. Fifth Third Bancorp, No. A 2003954, Hamilton County Court of Common Pleas.
If you recently purchased a property or satisfied the mortgage on your property (through paying off the mortgage and retaining the property or through selling the property) and would like to determine whether the mortgage was timely released under Ohio Law, please contact Markovits, Stock & DeMarco for a free case consultation: (513) 651-3700 or [email protected].