LISBON - Judge Scott Washam confirmed the sale of Timberlanes to Unique Ventures LLC in a judgment entry filed Tuesday in Columbiana County Common Pleas Court There had been at least four extensions as it was determined how the funds for the sale would be distributed. According to the court document, there remains a deficiency in the amount of nearly $2.8 million plus interest.
The judgment included the release of previous mortgages and lawsuits against the Timberlanes, including two filed by the the state Department of Taxation, several by the Bureau of Workers Compensation and unemployment claims by the Department of Jobs and Family Services.
Federal tax liens of $33,945, $602,809 and $348,346 were also released from the property's record.
From the funds recovered, the clerk of courts will receive $2,071 and the county treasurer will receive $122,563 for taxes owed on the property. The remaining money will be applied as a credit against the judgment.
Unique Ventures LLC was the sole bidder for the Timberlanes in March 2011 at a sheriff's sale.
