(U) "Exclusive right to sell or lease listing agreement" means an agency agreement between a seller and broker that meets the requirements of section 4735.55 of the Revised Code and does both of the following: (1) Grants the broker the exclusive right to represent the seller in the sale or lease of the seller's property; (2) Provides the broker will be compensated if the broker, the seller, or any other person or entity produces a purchaser or tenant in accordance with the terms specified in the listing agreement or if the property is sold or leased during the term of the listing agreement to anyone other than to specifically exempted persons or entities. (F) "Foreign real estate dealer" includes any person, partnership, association, limited liability company, limited liability partnership, or corporation, foreign or domestic, who for another, whether pursuant to a power of attorney or otherwise, and who for a fee, commission, or other valuable consideration, or with the intention, or in the expectation, or upon the promise of receiving or collecting a fee, commission, or other valuable consideration, does or deals in any act or transaction specified or comprehended in division (A) of this section with respect to foreign real estate. For other Nolo articles on neighbor disputes involving adverse possessions and easements, see Adverse Possession: When Trespassers Become Property Owners and Easements: Overview. (C) Knowledge of or information contained in a brokerage or an affiliated or past licensee's transaction records of any current or previous defect, adverse condition, or repair in real property shall not be imputed to that broker or to other licensees affiliated with that broker. The Cincinnati Enquirer. A real estate salesperson's license or a foreign real estate salesperson's license shall show the name of the real estate broker or foreign real estate dealer with whom the salesperson is or is to be associated. The superintendent may process the application regardless of whether the licensee's license is returned to the superintendent. Any licensee whose license is on deposit under this division and who fails to meet the continuing education requirements of section 4735.141 of the Revised Code because the licensee is in the armed forces shall satisfy the commission that the licensee has complied with the continuing education requirements within twelve months of the licensee's first birthday after discharge or within the amount of time equal to the total number of months the licensee spent on active duty, whichever is greater. (B) Except for a licensee who has placed the licensee's license in resigned status pursuant to section 4735.142 of the Revised Code, each licensed broker, brokerage, or salesperson shall file, on or before the date the Ohio real estate commission has adopted by rule for that licensee in accordance with division (A)(2)(f) of section 4735.10 of the Revised Code, a notice of renewal on a form prescribed by the superintendent of real estate. (G) A licensee shall submit proof of completion of the required continuing education with the licensee's notice of renewal. hi, I have a question about contracts which provide a space at the bottom of each page with the words "Initials: ____ " Regarding the need for initializing at the bottom of each page of some contracts by the signatories (such as required by Ohio Revised Code 1349.55 for contract providing for a non-recourse civil litigation advance), have you heard of any cases where a Court has ruled that. (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. (5) In conjunction with the enforcement of this chapter, issue advisory letters in lieu of initiating disciplinary action under section 4735.051 or 4735.052 of the Revised Code or issuing a citation under section 4735.16 or 4735.181 of the Revised Code. Any license so deposited with the superintendent shall be subject to this chapter. 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. (B) A licensed real estate broker or licensed foreign real estate dealer may pay a commission to a licensed real estate broker or licensed foreign real estate dealer of another state or country and may receive a commission from a licensed real estate broker or licensed foreign real estate dealer of another state or country, but only when done in accordance with rules adopted by the Ohio real estate commission pursuant to section 4735.10 of the Revised Code. (D) Notwithstanding any other provision of this section, the liability of the fund shall not exceed forty thousand dollars for any one licensee. If the real estate broker has not less than eleven nor more than twenty real estate salespersons associated with the broker, an additional fee of sixty-four dollars shall be assessed to the brokerage. (B) When two licensees affiliated with the same brokerage represent separate clients in the same transaction, each affiliated licensee shall do both of the following: (1) Serve as the agent of only the party in the transaction the licensee agreed to represent; (2) Fulfill the duties owed to the respective client as set forth in this chapter and as agreed in the agency agreement. (A) No real estate broker or salesperson licensed pursuant to this chapter shall fail to comply with divisions (B) and (D) of section 4735.13, division (D) of section 4735.14, or sections 4735.22, 4735.55, 4735.56, and 4735.58 of the Revised Code or any rules adopted under those divisions or sections. Making permitted disclosures does not terminate any agency relationship between a licensee and a client. (A) A broker who has the exclusive authority to represent a client under a written exclusive agency agreement, exclusive right to sell agreement, or exclusive purchaser agency agreement may authorize other licensees to negotiate directly with that client. (C) If a person whose license is in a permanently resigned status pursuant to a request made under this section wishes to obtain an active or inactive license, the person shall apply for such a license in accordance with the requirements specified in section 4735.07 or 4735.09 of the Revised Code, as applicable, or in the rules adopted by the commission pursuant to division (A) of section 4735.10 of the Revised Code. 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. (A) In representing a purchaser in an agency relationship, a licensee shall: (1) Seek a property at a price and with purchase or lease terms acceptable to the purchaser. If the complainant is the Ohio civil rights commission, the complaint shall be reviewed by the commissioners directly upon request. (3) In the case of a licensee as described in division (G)(2) of this section, who holds the license through a reciprocity agreement with another state, the spouse's service shall have resulted in the licensee's absence from the licensee's state of residence for the provisions of that division to apply. (2) The parties provide the broker with separate written instructions that both parties have signed that specify how the broker is to disburse the earnest money and the broker acts pursuant to those instructions. The Ohio Revised Code contains all current statutes of the Ohio General Assembly of a permanent and general nature, consolidated into provisions, titles, chapters and sections. Prior to presenting the seller with either a written offer to purchase or lease, or a written request for a proposal to lease, the seller's agent, or the purchaser's agent if the seller is not represented by an agent, shall present the agency disclosure statement to the seller and request the seller to sign and date the statement. The commission, in accordance with rules adopted under division (A)(2)(g) of section 4735.10 of the Revised Code, shall impose a special assessment not to exceed ten dollars per year for each year of a licensing period on each licensee filing a notice of renewal under section 4735.14 of the Revised Code if the amount available in the fund is less than two hundred fifty thousand dollars on the first day of July preceding that filing. The policy shall include provisions on whether any dual agency relationships set forth in section 4735.70 of the Revised Code are permitted. The post-secondary education requirement may be satisfied by completing the credit-eligible courses using either classroom instruction or distance education. A real estate broker, real estate salesperson, foreign real estate dealer, and foreign real estate salesperson may be associated with a brokerage as either an employee or an independent contractor. If feasible, the instruction in Ohio real estate law shall be taught by a member of the faculty of an accredited law school. (G) Any owner of any interest in foreign real estate may refer a prospective buyer to the person who sold the owner that foreign real estate with the expectation of receiving valuable consideration, if all of the following conditions are satisfied: (1) The person who sold the owner that foreign real estate is selling qualified foreign real estate pursuant to section 4735.25 of the Revised Code. The application shall be in the form prescribed by the superintendent and shall contain such information as is required by this chapter and the rules of the Ohio real estate commission. The commission shall hear the testimony of either the complainant or the licensee at the meeting upon the request of the complainant or licensee. The superintendent of real estate shall comply with section 4776.20 of the Revised Code. 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. 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. In addition to the penalty provided in section 901.99 of the Revised Code, whoever violates this section is liable in treble damages for the injury caused. (5) Appoint a hearing examiner for any proceeding involving disciplinary action under section 3123.47, 4735.052, or 4735.18 of the Revised Code; (6) Administer the real estate recovery fund. 327, 42 U.S.C. (E) "Foreign real estate" means real estate not situated in this state and any interest in real estate not situated in this state. (D) A licensee working directly with a purchaser in a real estate transaction, whether as the purchaser's agent, the seller's agent, or the seller's subagent, shall provide the purchaser with the brokerage policy on agency described in this section and obtain a signature from the purchaser acknowledging receipt of the policy unless the purchaser refuses to provide a signature. A salesperson licensed under this chapter shall not sell, assign, or otherwise transfer the salesperson's interest in a commission or any portion thereof to an unlicensed person or entity. The application fee shall be nonrefundable. 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. (B) If the complainant and licensee both file with the division requests for an informal mediation meeting, the superintendent shall notify the complainant and licensee of the date of the meeting, which shall be within twenty business days thereafter, except that any party may request an extension of up to fifteen business days for good cause shown. (27) Failure to maintain at all times a special or trust bank account in a depository in this state, to be used exclusively for the deposit and maintenance of all rents, security deposits, escrow funds, and other moneys received by the broker in a fiduciary capacity in the course of managing real property. Code Section. Each broker's or foreign real estate dealer's license shall show the name and address of the licensee, and in the case of partnership, association, limited liability company, limited liability partnership, and corporation licenses, the name and address of each of the members or officers of the partnership, association, limited liability company, limited liability partnership, or corporation. A duplicate copy of any process or pleading served on the superintendent shall be immediately forwarded by certified mail to the main office of the licensee against which that process or pleading is directed. (F) If, at any time, the money deposited in the fund is insufficient to satisfy any duly authorized claim or portion of a claim, the superintendent shall, when sufficient money has been deposited in the fund, satisfy such unpaid claims or portions, in the order that such claims or portions were originally filed, plus accumulated interest per annum at the rate specified in division (A) of section 1343.03 of the Revised Code. seconded and council voted with seven yes votes to go into executive session at 6:38 pm . A copy of all research reports shall be submitted to the state library of Ohio and the library of the legislative service commission. The chapters are divided into sections which contain the text of individual statutes. The state authorizing entity may consult with the superintendent in reviewing the course for compliance with this section. (3) The name of the brokerage shall be displayed in equal prominence with the name of the salesperson in the advertisement. (B) The license of each real estate salesperson shall be mailed to and remain in the possession of the licensed broker with whom the salesperson is or is to be associated until the licensee places the license on inactive or resigned status or until the salesperson leaves the brokerage or is terminated. The commission shall decide within sixty days of the filing of the hearing examiner's report or within sixty days of the filing of an Ohio civil rights commission complaint. If it is determined that the licensee has been convicted of any criminal offense, the superintendent may immediately suspend the license of the licensee. 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 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. The motion may be supported by affidavit of any person having knowledge of the facts and may be made on the basis that the application, including the judgment referred to in it, does not form the basis for a meritorious recovery claim; provided, that the superintendent shall give written notice to the applicant at least ten days before such motion. For such purpose, the commission or superintendent shall have the same power as judges of county courts to administer oaths, compel the attendance of witnesses, and punish them for refusal to testify. (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. Real Property 5309.40. The failure of a broker to return the license of a real estate salesperson or broker who leaves or who is terminated, via certified mail return receipt requested, within three business days of the receipt of a written request from the superintendent for the return of the license, is prima-facie evidence of misconduct under division (A)(6) of section 4735.18 of the Revised Code. (K) Examinations shall be administered with reasonable accommodations in accordance with the requirements of the "Americans with Disabilities Act of 1990," 104 Stat. (5) That as a dual agent, the brokerage cannot engage in conduct that is contrary to the interests or instructions of one party or act in a biased manner on behalf of one party; (6) A section specifying the source of compensation to the real estate broker; (7) That the client does not have to consent to the dual agency relationship, and the options available to the client for representation in the transaction if the client does not consent, including the right of the client to terminate the agency relationship and seek representation from another source; (8) That the consent to the dual agency relationship by the client has been given voluntarily, that the signature indicates informed consent, and that the duties of a licensee acting as a dual agent disclosed to the client pursuant to division (B) of this section have been read and understood. DoNotPay will create a demand letter automatically using all the information you provided. (C) Every principal broker of a brokerage shall do all of the following: (1) Oversee and direct the operations of the brokerage; (2) Comply with the office requirements set forth in division (A) of section 4735.13 and division (A) of section 4735.16 of the Revised Code; (3) Display, as required by division (D) of section 4735.16 of the Revised Code and division rules, the fair housing statement in the brokerage offices and on the pamphlets required by that section and section 4735.03 of the Revised Code and the rules adopted by the Ohio real estate commission; (4) Renew the licenses of the brokerage and any branch offices as required by section 4735.14 of the Revised Code and pay the fee required under division (B)(2) of section 4735.15 of the Revised Code and commission rules; (5) Maintain the licenses of the brokerage and affiliated salespersons and brokers as required by section 4735.13 of the Revised Code; (6) Return the license of terminated salespersons and brokers as required by division (B) of section 4735.13 of the Revised Code; (7) Comply with the trust or special bank account requirements set forth in divisions (A)(26) and (27) of section 4735.18 and section 4735.24 of the Revised Code and commission rules; (8) Maintain complete and accurate trust account records and transaction records as required by division (A)(24) of section 4735.18 of the Revised Code and commission rules; (9) Develop and maintain a written company policy on agency relationships as required by section 4735.54 of the Revised Code and rules adopted by the superintendent of real estate and professional licensing; (10) Develop a written brokerage policy on agency required by section 4735.56 of the Revised Code; (11) Pay affiliate licensees as required by division (A) (31) of section 4735.18 of the Revised Code; (12) Establish practices and procedures to assure that only affiliated licensees perform and are compensated for performing the licensed activity as required by division (A)(34) of sections 4735.18 and 4735.20 of the Revised Code; (13) Establish practices and procedures to assure compliance with the advertising requirements set forth in section 4735.16 of the Revised Code and commission rules; (14) Generally oversee the licensed activity of affiliated licensees and to assure that affiliated licensees are providing real estate services within their area of competency or are working with another affiliated licensee who possesses such a competency. 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