(G) "Foreign real estate salesperson" means any person associated with a licensed foreign real estate dealer to do or deal in any act or transaction specified or comprehended in division (A) of this section with respect to foreign real estate, for compensation or otherwise. (2) If either client elects to accept the resignation, the brokerage shall not be entitled to any compensation from that client. (C) "Real estate salesperson" means any person associated with a licensed real estate broker to do or to deal in any acts or transactions set out or comprehended by the definition of a real estate broker, for compensation or otherwise. (B) No partnership, association, limited liability company, limited liability partnership, or corporation holding a real estate license shall employ as an officer, director, manager, or principal employee any person previously holding a license as a real estate broker, real estate salesperson, foreign real estate dealer, or foreign real estate salesperson, whose license has been placed in inactive or resigned status, or is suspended, or revoked and who has not thereafter reactivated the license or received a new license. To learn more about the property issues covered in this article and other disputes between landowners and neighbors, get . Real Property 5309.40. If the applicant does not submit both fees within that time period, or if any check or other draft instrument used to pay either of those fees is returned to the superintendent unpaid by the financial institution upon which it is drawn for any reason, the application shall be denied or approval withdrawn. (5) Divisions (B)(1) to (4) of this section do not apply to any of the following: (a) Actions arising from property management accounts maintained in the name of the property owner; (b) A bonding company when it is not a principal in a real estate transaction; (c) A person in an action for the payment of a commission or fee for the performance of an act or transaction specified or comprehended in division (A) or (C) of section 4735.01 of the Revised Code; (d) Losses incurred by investors in real estate if the applicant and the licensee are principals in the investment. (4) A real estate broker who is representing a seller under an exclusive right to sell or lease listing agreement shall not advertise such property to the public as "for sale by owner" or otherwise mislead the public to believe that the seller is not represented by a real estate broker. Such new license shall be issued without charges, if granted during the same year in which the original license was granted. (G) If the applicant merely is renewing the applicant's license for the previous year, the application need contain only the information required by divisions (A)(2), (3), and (6) of this section. The agreement may authorize the broker to receive compensation from the seller or the seller's agent and may provide that the purchaser is not obligated to compensate the broker if the property is purchased or leased solely through the efforts of the purchaser. (E) The commission may establish by rule reasonable fees for services not otherwise established by this chapter. (I) Any person who has not been licensed as a real estate salesperson or broker within a four-year period immediately preceding the person's current application for the salesperson's examination shall have successfully completed the prelicensure instruction required by division (F)(6) of this section within a ten-year period immediately preceding the person's current application for the salesperson's examination. (CC) "Credit-eligible course" means a credit or noncredit-bearing course that is both of the following: (1) The course is offered by an institution of higher education. (C) If the check or draft instrument was remitted by an applicant for licensure, that application shall automatically be rejected or approval withdrawn, unless the applicant, within fifteen days after the mailing of the notice, submits the fee and a one-hundred-dollar fee to the superintendent. The requirements of this division do not apply to an applicant who is admitted to practice before the supreme court. Upon the filing of such order in the office of the clerk of the court of common pleas, the clerk, under the seal of the court, shall issue process of subpoena for the person to appear before the commission or superintendent at a time and place named in the subpoena, and each day thereafter until the examination of such person is completed. The name, account number, and location of the depository shall be submitted in writing to the superintendent. Chapter; Chapter 5301 | Conveyances; Encumbrances: Chapter 5302 | Statutory Forms Of Land . (B) "Agency agreement" means a contract between a licensee and a client in which the client promises to pay the broker a valuable consideration, or agrees that the licensee may receive a valuable consideration from another, for performing an act that requires a real estate license under this chapter. (3) The name of the brokerage shall be displayed in equal prominence with the name of the salesperson in the advertisement. Field drainage ditch buffered with grass filter strips. (28) Having failed to put definite expiration dates in all written agency agreements to which the broker is a party; (29) Having an unsatisfied final judgment or lien in any court of record against the licensee arising out of the licensee's conduct as a licensed broker or salesperson; (30) Failing to render promptly upon demand a full and complete statement of the expenditures by the broker or salesperson of funds advanced by or on behalf of a party to a real estate transaction to the broker or salesperson for the purpose of performing duties as a licensee under this chapter in conjunction with the real estate transaction; (31) Failure within a reasonable time, after the receipt of the commission by the broker, to render an accounting to and pay a real estate salesperson the salesperson's earned share of it; (32) Performing any service for another constituting the practice of law, as determined by any court of law; (33) Having been adjudicated incompetent for the purpose of holding the license by a court, as provided in section 5122.301 of the Revised Code. Ohio Revised Code . Unless otherwise agreed in writing, a licensee owes no further duty to a client after performance of all duties or after any contract has terminated or expired, except for both of the following: (A) Providing the client with an accounting of all moneys and property relating to the transaction; (B) Keeping confidential all information received during the course of the transaction unless: (2) Disclosure is required by law or by court order; (3) The information becomes public from a source other than the licensee; (4) The information is necessary to prevent a crime the client intends to commit; (5) Disclosure is necessary to defend the brokerage or its licensees against an accusation of wrongful conduct or to establish or defend a claim that a commission is owed on a transaction; (6) Disclosure is regarding sales information requested by a real estate appraiser assistant registered under Chapter 4763. of the Revised Code or a real estate appraiser licensed or certified under Chapter 4763. of the Revised Code for the purposes of performing an appraisal. The commission shall not impose a special assessment if the amount available in the fund exceeds two hundred fifty thousand dollars on the first day of July preceding that filing. (A) An application to act as a foreign real estate salesperson shall be in writing and filed with the superintendent of real estate. What is adverse possession? If funds in the division of real estate operating fund are determined by the director of commerce to be in excess of those necessary to fund all the expenses of the division in any biennium, the director may pay the excess funds to the real estate education and research fund. The brokerage shall provide a copy of its policy developed and maintained under this section to each client or prospective client upon request. (A) An application to act as a foreign real estate dealer shall be in writing and filed with the superintendent of real estate. (D) No cause of action shall arise on behalf of any person against a licensee in a dual agency relationship for making disclosures to the parties that are permitted or required by this chapter or that have been made on the agency disclosure statement. The account shall be noninterest-bearing, separate and distinct from any personal or other account of the broker, and, except as provided in division (A)(27) of this section, shall be used for the deposit and maintenance of all escrow funds, security deposits, and other moneys received by the broker in a fiduciary capacity. There is hereby created the Ohio real estate commission, consisting of five members who shall be appointed by the governor, with the advice and consent of the senate. One dollar of each application fee shall be credited to the real estate education and research fund. selling property with encroachment. (Q) "Revoked" means the license status in which the license is void and not eligible for reactivation. (B) The agency disclosure statement shall specify the duties of a licensee acting as a dual agent and shall contain sections disclosing all of the following: (1) An explanation of the nature of a dual agency relationship, including a statement that in serving as a dual agent, licensees in the brokerage represent two clients whose interests are, or at times could be, different or adverse; (2) That as a result of the dual agency relationship, the dual agent may not be able to advocate on behalf of the client to the same extent the agent may have if the agent represented only one client; (3) A description of the duties the brokerage and its affiliated licensees and employees owe to each client, including the duty of confidentiality; (4) That neither the brokerage nor its affiliated licensees have any material relationship with either client other than incidental to the transaction, or if the brokerage or its affiliated licensees have a material relationship, a disclosure of the nature of the relationship. (B) This section does not affect any criminal or civil liability that a licensed real estate broker, real estate salesperson, foreign real estate dealer, or foreign real estate salesperson, or any unlicensed person, may have under this or another chapter of the Revised Code or under the common law of this state. An application for such transfer shall be made to the superintendent of real estate on forms provided by the superintendent. (J) "Purchaser" means a party in a real estate transaction who is the potential transferee of property. Each member, before entering upon the duties of office, shall subscribe to and file with the secretary of state the constitutional oath of office. (A) The Ohio real estate commission is a part of the department of commerce for administrative purposes. Ohio Code 971.03 Property not covered by the Fence Line Law. The application fee shall be nonrefundable. The Ohio real estate commission shall provide by rule for the wording and size of the statement. Please complete the Request for Compliance Letter form.The easement is a real property interest, but separate from the legal . (C) Nothing in this section limits any obligation of a seller to disclose to a purchaser all material facts known by the seller pertaining to the physical condition of the property, nor does it limit the obligation of the prospective purchaser to inspect the physical condition of the property. The requirement of an examination may be waived in whole or in part by the superintendent if an applicant is licensed as a real estate broker or salesperson by any state. Statutes, codes, and regulations. (A) The real estate recovery fund is hereby created in the state treasury, to be administered by the superintendent of real estate. A discharge in bankruptcy does not relieve a person from the suspension and requirements for reactivation provided in this section unless the underlying judgment has been included in the discharge and has not been reaffirmed by the debtor. If the superintendent determines that the proposed name is not clearly distinguishable from any other existing brokerage, the superintendent may approve the use of the trade name if there is filed with the superintendent the written consent of the existing brokerage with the same or similar name. Upon a showing by the superintendent that any person has violated or is about to violate any provision of this chapter, the court shall grant an injunction, restraining order, or other appropriate order. (D) A payment or the promise of a payment to a licensee does not determine whether an agency relationship has been created between a licensee and a client or between other licensees in the brokerage with which the licensee is affiliated and that client. (d) Guidelines to ensure that continuing education classes are open to all persons licensed under this chapter. As Ohio State University explains, adverse possession in Ohio is a holdover doctrine from old English law that may give caretakers the right to legally claim land they utilize. (C) A licensee does not breach any duty or obligation to the purchaser by acting as an agent or subagent for other purchasers, or as an agent or subagent for sellers, except that any dual agency relationship must be disclosed to a client pursuant to section 4735.71 of the Revised Code. . (F) The commissioners shall review the hearing examiner's report at the next regularly scheduled commission meeting held at least fifteen business days after receipt of the hearing examiner's report. The licensee shall provide the agency disclosure statement described in section 4735.57 of the Revised Code to the successful bidder prior to the bidder's signing a purchase contract. (34) Having authorized or permitted a person to act as an agent in the capacity of a real estate broker, or a real estate salesperson, who was not then licensed as a real estate broker or real estate salesperson under this chapter or who was not then operating as an out-of-state commercial real estate broker or salesperson under section 4735.022 of the Revised Code; (35) Having knowingly inserted or participated in inserting any materially inaccurate term in a document, including naming a false consideration; (36) Having failed to inform the licensee's client of the existence of an offer or counteroffer or having failed to present an offer or counteroffer in a timely manner, unless otherwise instructed by the client, provided the instruction of the client does not conflict with any state or federal law; (37) Having failed to comply with section 4735.24 of the Revised Code; (38) Having acted as a broker without authority, impeded the ability of a principal broker to perform any of the duties described in section 4735.081 of the Revised Code, or impeded the ability a management level licensee to perform the licensee's duties. . (A) Any person licensed under section 4735.07 or 4735.09 of the Revised Code, at any time prior to the date the licensee is required to file a notice of renewal pursuant to division (B) of section 4735.14 of the Revised Code may apply to the superintendent of real estate and professional licensing to place the licensee's license in a permanently resigned status. (A) If the superintendent of real estate has refused to qualify any foreign real estate under section 4735.25 of the Revised Code, or has suspended or revoked the qualification of any foreign real estate, the aggrieved party may appeal in accordance with Chapter 119. of the Revised Code. If feasible, the instruction in municipal, state, and federal civil rights law, new case law on housing discrimination, desegregation issues, and methods of eliminating the effects of prior discrimination shall be taught by a staff member of the Ohio civil rights commission who is knowledgeable with respect to those subjects. Browse Ohio Revised Code for free on Casetext. (2) Each licensee fulfills the licensee's duties exclusively to the licensee's client. (2) Any fee, commission, or other valuable consideration promised or collected during any period consisting of twelve consecutive months does not exceed one thousand dollars. In representing a purchaser in an agency relationship, no licensee shall do either of the following without the knowledge and consent of the purchaser: (B) Accept compensation from a broker who represents a seller. This requirement includes not disclosing confidential information to any licensee who is not an agent of the client. The licensee shall deliver the statement signed by the purchaser to the seller's agent, or to the seller if the seller is not represented by an agent. (4) The earnest money becomes unclaimed funds as defined in division (M)(2) of section 169.02 of the Revised Code and, after providing the notice that division (E) of section 169.03 of the Revised Code requires, the broker has reported the unclaimed funds to the director of commerce pursuant to section 169.03 of the Revised Code and has remitted all of the earnest money to the director. The commission shall notify the complainant and any other person who may have suffered financial loss because of the licensee's violations, that the complainant or other person may sue for recovery under section 4735.12 of the Revised Code. (D) Compliance with division (C) of this section does not relieve a broker described in that division of any obligations to supervise an affiliated licensee, or of any other requirements of this chapter or rules adopted pursuant to this chapter. This chart provides a summary of key Ohio laws relevant to property line and fence disputes. (B) An applicant who disclosed on the application that the applicant has been convicted of any criminal offense shall only be permitted to take the examination after the results of the criminal records check have been received by the superintendent and the superintendent has made a determination to disregard the conviction because the applicant has proven to the superintendent, by a preponderance of the evidence, that the applicant's activities and employment record since the conviction show that the applicant is honest, truthful, and of good reputation, and there is no basis in fact for believing that the applicant again will violate the laws involved. The development and maintenance of a policy under this section shall not relieve a brokerage from liability for the failure of the brokerage, any licensee of the brokerage, or any employee of the brokerage, to maintain the confidentiality of confidential information of a client. The statement shall bear the United States department of housing and urban development equal housing logo, shall contain the information that the broker and the broker's salespersons are licensed by the division of real estate and professional licensing and that the division can assist with any consumer complaints or inquiries, and shall explain the provisions of section 4735.12 of the Revised Code. The license of a real estate broker shall be prominently displayed in the office or place of business of the broker, and no license shall authorize the licensee to do business except from the location specified in it. (3) The licensee is found to have violated any federal, state, or municipal civil rights law pertaining to discrimination in housing. The commission shall maintain a transcript of the proceedings and issue a written opinion to the complainant and licensee, citing its findings and grounds for any action taken. If a licensee's license is reactivated as provided in division (E) of this section, the liability of the fund for the licensee under this section shall again be forty thousand dollars, but only for transactions that occur subsequent to the time of reactivation. A written application to reserve a bank name organized under Chapter 1113 of the Ohio Revised Code or already in existence must be filed with the superintendent, if the superintendent finds that the specified name satisfies the requirements then it will be endorsed and the reservation forwarded to the Secretary. Each licensee shall maintain a valid electronic mail address on file with the division and notify the superintendent of any change in electronic mail address within thirty days after the change. If the licensee is a partnership, association, limited liability company, limited liability partnership, or corporation, the notice of renewal shall be mailed by the superintendent two months prior to the filing deadline to the brokerage's business address on file with the division. The commission or the superintendent of real estate may investigate complaints concerning the violation of section 4735.02 or 4735.25 of the Revised Code and may subpoena witnesses in connection with such investigations as provided in section 4735.04 of the Revised Code. (E) If the superintendent finds that the applicant appears to be qualified to act as a foreign real estate salesperson, and has fully complied with the provisions of this chapter, and that the dealer in the application is a licensed foreign real estate dealer, the superintendent, upon payment of the fees prescribed by section 4735.15 of the Revised Code, shall issue a license to the applicant authorizing the applicant to act as a salesperson for the dealer named in the application. The citation also shall contain a statement of a fine of up to two hundred dollars per violation. In the discretion of the superintendent of real estate, court costs may be recovered from the fund, and, if the superintendent authorizes the recovery of court costs, the order of the court of common pleas then may direct their payment from the fund. The applicant shall attach to the application a copy of each pleading and order in the underlying court action. Upon receipt of the process, affidavit, and fee, the secretary of state immediately shall give notice of the process to the person, at the address given in the affidavit and forward to that address by certified mail, return receipt requested, a copy of the process. No member shall hold office for more than two consecutive full terms. Within fifteen business days after the superintendent notifies the complainant and licensee, the complainant may file with the superintendent a request that the Ohio real estate commission review the determination. (C) Every citation served under this section shall give notice to the licensee of the alleged violation or violations charged and inform the licensee of the opportunity to request a hearing in accordance with Chapter 119. of the Revised Code. (C) All fees collected under this section shall be paid to the treasurer of state. The contents of an examination shall be consistent with the requirements of division (B)(6) of this section and with the other specific requirements of this section. In representing any client in an agency or subagency relationship, the licensee shall be a fiduciary of the client and shall use the licensee's best efforts to further the interest of the client including, but not limited to, doing all of the following: (A) Exercising reasonable skill and care in representing the client and carrying out the responsibilities of the agency relationship; (B) Performing the terms of any written agency agreement; (C) Following any lawful instructions of the client; (D) Performing all duties specified in this chapter in a manner that is loyal to the interest of the client; (E) Complying with all requirements of this chapter and other applicable statutes, rules, and regulations, including the Ohio fair housing law, division (H) of section 4112.02 of the Revised Code, and the federal fair housing law, 42 U.S.C.A. The instruction shall include, but is not limited to, current practices relating to commercial real estate, property management, short sales, and land contracts; contract law; federal and state programs; economic conditions; and fiduciary responsibility. This disclosure shall take place during the first contact the licensee has with any employee or licensee of the brokerage with which the seller's agent is affiliated, or if the seller is not represented by a licensee, during the first contact with the seller. (b) If the licensee fails to meet the continuing education requirements of section 4735.141 of the Revised Code, the licensee shall satisfy the commission that the licensee has complied with the continuing education requirements within twelve months after the licensee's first birthday after the spouse's discharge or within the amount of time equal to the total number of months the licensee's spouse spent on active duty, whichever is greater. The superintendent shall not be bound by any prior compromise or stipulation of the judgment debtor. (C) "Agent" and "real estate agent" mean a person licensed by this chapter to represent another in a real estate transaction. (B) A licensee does not breach any duty or obligation to a seller with whom the licensee has an agency relationship by showing alternative properties to a prospective purchaser or by acting as an agent or subagent for other sellers. We'll mail the letter to your neighbor on your behalf. (H) If a licensed real estate salesperson submits an application to the superintendent to leave the association of one broker to associate with a different broker, the broker possessing the licensee's license need not return the salesperson's license to the superintendent. In representing a seller in an agency relationship, no licensee shall do either of the following without the knowledge and consent of the seller: (A) Extend an offer of subagency to other licensees; (B) Offer compensation to a broker who represents a purchaser. One dollar of the fee shall be credited to the real estate education and research fund. Information released by the division pursuant to this section remains confidential. If the person is brought before the court by virtue of the attachment, and if upon a hearing the disobedience appears, the court may order the offender to be committed and kept in close custody. The continuing education may be completed by either classroom instruction or distance education.
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