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Judicial
Title companies and lenders handle closings. Conveyance is by warranty deed. Dower rights require that all documents involving a married person must be executed by both spouses. Mortgages are the security instruments. Judicial foreclosures, the only kind allowed, require about 6-12 months. People in Ohio use ALTA policies; they get a commitment at closing and a policy following the recording of documents. Buyers and sellers negotiate who’s going to pay closing costs and title insurance premiums, but sellers pay the transfer taxes. Property tax payment dates vary throughout the state.
Varies throughout the state
YES. Key components of property management (leasing and renting) are considered real estate activities under existing Ohio real estate licensing laws. If a property manager is going to lease, rent, list, procure prospects or negotiate, assist, or offer to perform any of those acts, or if he or she operates, manages or rents any building or portions of buildings to the public as tenants (other than a custodian, caretaker or janitor) he or she will need a broker's license. A salesperson working under a broker may engage in such activities.
YES. Limited exceptions apply. For example, property owners are exempt. For more information about these and other Ohio property management requirements and exceptions, please contact the Commerce Division of Real Estate and Professional Licensing. Before hiring a property manager to manage your Ohio rental property, you should always check that he or she is licensed appropriately. You can check the license status of Ohio property managers using the License Lookup function.
There is no requirement that a community association manager or condo association manager in Ohio hold a real estate broker's license.
Title companies and lenders handle closings. Conveyance is by warranty deed. Dower rights require that all documents involving a married person must be executed by both spouses. Mortgages are the security instruments. Judicial foreclosures, the only kind allowed, require about 6-12 months. People in Ohio use ALTA policies; they get a commitment at closing and a policy following the recording of documents. Buyers and sellers negotiate who’s going to pay closing costs and title insurance premiums, but sellers pay the transfer taxes. Property tax payment dates vary throughout the state.
Varies throughout the state
Warranty deed
