§ 367.111  Definitions
   For purposes of Sections 367.12 and 367.13 of these Codified Ordinances, the following definitions apply:
   (a)   Appraiser. A person who makes an appraisement of property to determine a just and true valuation.
   (b)   Buyer. A party in a real property transaction who buys or purchases real property or who contracts to buy or purchase real property. Buyer includes the grantee, vendee or purchaser in a real property transaction.
   (c)   Escrow Agent. A person with whom the seller deposits the deed and other documents or items regarding the sale of real property until specified conditions are met.
   (d)   Loan Originator. A person who negotiates or arranges a mortgage loan between a person who makes or funds mortgage loans and a buyer; or who issues a commitment for a mortgage loan to a buyer; or who places, assists to place, or finds a mortgage loan for a buyer. A loan originator also includes a person who makes or funds mortgage loans.
   (e)   Mortgage Broker. As defined in division (G) of RC 1322.01, a person who holds him, her, or itself out as being able to assist a buyer in obtaining a mortgage and charges or receives from either the buyer or lender money or other valuable consideration readily convertible into money for providing this assistance; or a person who solicits financial and mortgage information from the public, provides that information to a mortgage broker and charges or receives from the mortgage broker money or other valuable consideration reality convertible into money for providing the information; or a person engaged in table-funding or warehouse-lending mortgage loans that are first lien mortgage loans.
   (f)   Real Estate Agent. A person licensed by RC Chapter 4735 to represent another in a real estate transaction.
   (g)   Seller. A party in a real property transaction who sells, transfers or grants real property or who contracts to sell, transfer or grant real property. Seller includes the grantor, vendor, or transferor in a real property transaction. The seller is the transferring agent if there is no escrow agent involved in the transaction.
(Ord. No. 1864-01. Passed 10-20-03, eff. 10-22-03)