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To amend sections 5307.11, 5307.12, 5307.13, 5307.14, | 1 |
and 5307.16 and to enact section 5301.057 of the | 2 |
Revised Code to prohibit transfer fee covenants in | 3 |
certain real estate transactions and to enable a | 4 |
court of common pleas to order a licensed | 5 |
auctioneer to conduct a sale of real property | 6 |
pursuant to a writ of partition. | 7 |
Section 1. That sections 5307.11, 5307.12, 5307.13, 5307.14, | 8 |
and 5307.16 be amended and section 5301.057 of the Revised Code be | 9 |
enacted to read as follows: | 10 |
Sec. 5301.057. (A) As used in this section: | 11 |
(1) "Environmental covenant" means a servitude that imposes | 12 |
activity and use limitations on real property and meets the | 13 |
requirements of section 5301.82 of the Revised Code. | 14 |
(2) "Transfer" means the sale, gift, conveyance, assignment, | 15 |
inheritance, or other transfer of an ownership interest in real | 16 |
property located in this state. | 17 |
(3) "Transfer fee" means a fee or charge required by a | 18 |
transfer fee covenant and payable upon the transfer of an interest | 19 |
in real property, or payable for the right to make or accept such | 20 |
a transfer, regardless of whether the fee or charge is a fixed | 21 |
amount or is determined as a percentage of the value of the | 22 |
property, the purchase price, or other consideration given for the | 23 |
transfer. The following are not transfer fees for purposes of this | 24 |
section: | 25 |
(a) Any consideration payable by the grantee to the grantor | 26 |
for the interest in real property being transferred. For the | 27 |
purposes of division (A)(3)(a) of this section, an interest in | 28 |
real property includes a separate mineral estate and its | 29 |
appurtenant surface access rights. | 30 |
(b) Any commission payable to a licensed real estate broker | 31 |
or salesperson for the transfer of real property pursuant to an | 32 |
agreement between the broker or salesperson and the grantor or the | 33 |
grantee; | 34 |
(c) Any interest, charges, fees, or other amounts payable by | 35 |
a borrower to a lender pursuant to a loan secured by a mortgage | 36 |
against real property; | 37 |
(d) Any rent, reimbursement, charge, fee, or other amount | 38 |
payable by a lessee to a lessor under a lease; | 39 |
(e) Any consideration payable to the holder of an option to | 40 |
purchase an interest in real property or the holder of a right of | 41 |
first refusal or first offer to purchase an interest in real | 42 |
property for waiving, releasing, or not exercising the option or | 43 |
right upon the transfer of the property to another person; | 44 |
(f) Any tax, fee, charge, assessment, fine, or other amount | 45 |
payable to or imposed by a governmental authority; | 46 |
(g) Any fee, charge, assessment, fine, or other amount | 47 |
payable to a homeowners, condominium, cooperative, mobile home, or | 48 |
property owners association pursuant to a declaration or covenant | 49 |
or law applicable to the association; | 50 |
(h) Any payment required pursuant to an environmental | 51 |
covenant. | 52 |
(4) "Transfer fee covenant" means a declaration or covenant | 53 |
recorded against the title to real property that requires or | 54 |
purports to require the payment of a transfer fee to the declarant | 55 |
or other person specified in the declaration or covenant or to | 56 |
their successors or assigns upon a subsequent transfer of an | 57 |
interest in the real property. | 58 |
(B) A transfer fee covenant recorded in this state on or | 59 |
after the effective date of this section does not run with the | 60 |
title to real property and is not binding on or enforceable | 61 |
against any subsequent owner, purchaser, or mortgagee of any | 62 |
interest in real property as an equitable servitude or otherwise. | 63 |
(C) Any lien purporting to secure the payment of a transfer | 64 |
fee under a transfer fee covenant that is recorded in this state | 65 |
on or after the effective date of this section is void. | 66 |
Sec. 5307.11. If no | 67 |
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common pleas may order a sale of the estate at public auction | 69 |
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(A) The sheriff who executed the writ of partition | 71 |
the sheriff's successor in office; | 72 |
(B) An auctioneer who is licensed under Chapter 4707. of the | 73 |
Revised Code and who is qualified under section 4707.021 of the | 74 |
Revised Code to conduct an auction of real property. | 75 |
Sec. 5307.12. (A) A sale of an estate under section 5307.11 | 76 |
of the Revised Code shall be made | 77 |
(1) If the sale is made by a sheriff, the sale shall be made | 78 |
at the door of the courthouse, unless for good cause the court of | 79 |
common pleas directs it to be made on the premises. The sale shall | 80 |
be conducted as upon execution, except that it is unnecessary to | 81 |
appraise the estate | 82 |
(2) If the sale is made by a licensed auctioneer, the sale | 83 |
shall be made pursuant to Chapter 4707. of the Revised Code. | 84 |
(B) No property shall | 85 |
the value returned by the commissioner or commissioners. | 86 |
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Sec. 5307.13. On the | 91 |
to sell the estate, the court of common pleas shall examine them. | 92 |
If a sale has been made, and the court approves it, the sheriff | 93 |
shall execute and deliver a deed to the purchaser on receiving | 94 |
payment of the consideration money, or taking sufficient security | 95 |
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Sec. 5307.14. | 97 |
section, the money or securities arising from a sale of, or an | 98 |
election to take an estate, shall be distributed and paid, by | 99 |
order of the court of common pleas, to the parties entitled | 100 |
101 | |
parts and proportions of the estate, according to their rights | 102 |
103 |
(B) When a sale is made by a licensed auctioneer, the | 104 |
auctioneer shall receive compensation and reimbursement for | 105 |
expenses as described in section 2335.021 of the Revised Code, | 106 |
that the court shall apportion as costs to the parties as the | 107 |
court finds reasonable and proper. | 108 |
(C) All receipts of | 109 |
arising from a sale or election are in | 110 |
capacity, and | 111 |
are liable for any misapplication | 112 |
Sec. 5307.16. | 113 |
auctioneer has not conveyed land sold | 114 |
proceeding for partition, | 115 |
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sale or election was regularly made, and that the purchase money | 117 |
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sheriff of the county, or officer performing the duties of | 119 |
sheriff, to execute and deliver to the purchaser, or person | 120 |
electing to take the property, a deed | 121 |
Section 2. That existing sections 5307.11, 5307.12, 5307.13, | 122 |
5307.14, and 5307.16 of the Revised Code are hereby repealed. | 123 |