In the “old days”, when one could get 10%+ in a money market, a real estate management fee of 4-6% on rents did not excite many folks in the real estate industry about jumping into the property management business. Now that 1% is considered a “high rate of interest”,...
On February 16, 2016, the Ohio Supreme Court decided In re Messer, Slip Opinion No 2016-Ohio-510, which addresses the application of ORC 1301.401 to recorded mortgages that were deficiently executed under ORC 5301.01. This decision was issued at the request of U.S....
As we come out of hibernation from a not so bad winter, and head into the spring of 2016, there are many new real estate related continuing education offerings worth looking into. Below are some of the recent real estate related CLEs scheduled. OSBA 31st Annual...
A prior sale price is typically the basis for a real property valuation but not always. A couple of recent decisions issued by the Ohio Supreme Court. In Warrensville Hts. City School Dist Bd of Edn. V. Cuyahoga Cty Bd. of Revision, Slip Opinion No. 2016-Ohio-78, the...
Recent bills of the 131st General Assembly (See https://www.legislature.ohio.gov/) pending in the Ohio House and Ohio Senate related to real property are as follows:...
When a property owner holds an easement on neighboring property and later acquires title to that neighboring property, the easement automatically terminates by operation of law due to the merger of title. After all, a property owner cannot hold an easement on its own...
Liquidated Damages Provisions Generally Typically, courts in Ohio (and elsewhere) follow a well-known principle of interpreting contract language so as to carry out the intent of the parties, when that intent is evidenced by clear, contract language. This is...
All parties involved in real estate transactions need to take care in how they handle the closings and wire funds. Reports in both the United States and Britain show in increase in what is known as “spear phishing”. An article by Rose Meily published in the San Jose...
There are many different types of purchase/sale agreement forms in use, varying in type, complexity and standardization. Real estate broker or legal stationary company “standard” forms, for example are used in most residential deals. The inherent problem with the...
New ALTA/NSPS (fka AlTA/ACSM)* survey standards were adopted and take effect on this month on February 23rd. The new standards replace ALTA/ACSM standards previously adopted in 2011. "1. Purpose - Members of the American Land Title Association® (ALTA®) have specific...