by steve@ultradata.net | Apr 5, 2017 | Consumer News, Frequently Ask Questions, News
The Ohio General Assembly has recently passed House Bill 463. This new “Good Funds” law effects any real property transactions one-to-four-family dwellings and will impact all residential real estate closings in Ohio. Basically, the passage of the new...
by steve@ultradata.net | Dec 4, 2012 | Frequently Ask Questions
If you have a trust in Ohio, your trust, is a private document that is normally never made public, during your life or at your death, no third party needs to know who gets what and how much unless you want them to know. Since 2007, Ohio adopted provisions of the...
by steve@ultradata.net | Nov 7, 2012 | Consumer News, Frequently Ask Questions
EFFECTIVE MARCH 22, 2012 Generally speaking, a trust is not a legal entity and it may not hold title to real property, with a couple of exceptions for specific types of trusts. Rather, it is the trustee who holds title for the benefit of the beneficiaries of the...
by steve@ultradata.net | Dec 22, 2011 | Frequently Ask Questions
I get this question about twice a year from customers and even real estate agents that don’t know why the seller must pay the transfer tax in the State of Ohio. Well, it’s because it’s been written into the law (Ohio Revised Code – 322.02 Real property transfer...
by steve@ultradata.net | Mar 2, 2011 | Consumer News, Frequently Ask Questions
Effective February 23, 2011 – The minimum standard detail requirements for ALTA/ACSM Land Title Surveys were recently revised. The last revision was in 2005. Surveys using these standards are commonly referred to as “ALTA surveys” and are frequently used when title...
by steve@ultradata.net | Jan 31, 2011 | Consumer News, Frequently Ask Questions
At one time or another, you have undoubtedly had to deal with lengthy and cumbersome mortgage disclosure documents – pages numbering 10 or more, long documents, small print and verbiage that confuses more than explains. This may all be coming to an end as the Consumer...
