October 15, 2017
When banks and other lenders make a loan for real estate financing, they typically take back from the borrow a promissory note (promising to re-pay the sums borrowed) and a mortgage against the real estate financed (securing the payment of the loan). And under that scenario, even a borrower in default has certain rights as … Continue reading Class action complaint claims complex lending scheme is impermissible under Ohio law
If you are purchasing a home in a county with a countywide water system (e.g. Butler County), you should be aware of a little known wrinkle in the law that could leave you on the hook for your seller’s water bill. R.C. 6103.02(G) gives a county water works three options to collect unpaid water bills: … Continue reading Homebuyers Beware – Is the Seller Current on the Water Bill?
September 22, 2017
A recent change to Ohio Revised Code Section 5717.04 will remove the option to file an appeal from a Board of Tax Appeals decision directly to the Ohio Supreme Court. Starting September 29, 2017, Ohioan’s unhappy with a Board of Tax Appeals decision will now have to file their appeal with the local Court of … Continue reading Ohio Budget Bill Includes Changes to Tax Appeals Procedure
September 16, 2017
Every parcel of real property in Ohio undergoes a major “reappraisal” by the County Auditor’s office every six years and then a minor “update” in the three years in the middle of that six-year cycle. Different counties in Ohio are on a different six year and three year cycle. Below is a list of the counties going through … Continue reading Ohio Tax Law: Is your county starting a new tax triennial?
September 14, 2017
In a widely anticipated decision that will have major implications for Ohio businesses, the Ohio Supreme Court today ruled that, for purposes of property tax valuation, sale-leaseback transactions are not “arm’s-length.” Meaning that county auditors and boards of revision should not simply adopt the sale price in such transactions as the “true value” when valuing … Continue reading Ohio Supreme Court: Sale and Leasebacks are not Arm’s-Length Transactions
September 10, 2017
As first-year law students and many even outside of the legal community know, the “statute of frauds,” codified in Ohio R.C. 1335.04, requires that any interest in land be evidenced by a writing. Principle of Part Performance But this general principle is not without exception. One of the more commonly referenced exceptions is part performance. … Continue reading Ohio Real Estate Law: Constructive and Resulting Trusts: Little-Known Exceptions to a Well-Known Rule
September 8, 2017
We caught Team Ivy hard at work on a Friday afternoon, all wearing their snazzy new Ivy Pointe Title polos. From left to right: Chris Finney, Laura Linneman, Tida Griffits, Patty Gillespie, and Rick Turner. Thanks, all!
September 5, 2017
In April of this year, the Ohio legislature passed an updated Good Funds Law for transactions involving residential real estate to mandate, among other things, wire transfers for amounts in excess of $1,000, with a few exceptions. Now, that amount has been increased to $10,000. So, the new rule is that a ll funds coming … Continue reading Good Funds Law updated again: Checks can be up to $10,000
September 3, 2017
I want to extend a warm and sincere “Thank You” to the attorneys, staff, vendors, and clients of Finney Law Firm, LLC who have joined together to make our firm — dedicated to “Making a Difference” for our clients and in our profession and community — a tremendous success in our first four years in … Continue reading Thank you, one and all.
July 18, 2017
How do I obtain an Ohio commercial real estate broker lien? First, let’s be clear: There is no lien right for real estate brokers for property consisting solely of between one and four residential units. (O.R.C §§1311.85 and .86). However, licensed real estate brokers do have lien rights in transactions involving commercial properties, i.e., anything other than between one and four residential units. (O.R.C §§1311.86). The lien rights … Continue reading Ohio real estate brokerage law: Liens for Realtors in commercial transactions