Loading...
(a) The Director of Community Development is hereby authorized to adopt such written rules and regulations as may be necessary for the proper interpretations and enforcement of this Code. Such rules and regulations shall not conflict with or waive any provisions of this Housing Code or any other of these Codified Ordinances. Such rules and regulations shall be submitted to the Board of Building Standards and Building Appeals for approval and no such rule or regulation shall be adopted without such approval. Failure of the Board to approve, disapprove or modify such rules and regulations within ninety (90) days after submission shall be deemed to constitute approval thereof.
(b) Such rules and regulations, upon adoption, shall be published in the City Record for two (2) consecutive weeks and shall be in effect on and from fifteen (15) days after the second publication therein. Such rules and regulations shall have the force and effect of this Code and shall continue in effect until revoked by the Director with the approval of the Board or by action of Council.
(Ord. No. 2409-59. Passed 4-4-60, eff. 4-6-60)
(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)
(a) No person, agent, firm or corporation shall sell or transfer real property, or enter into a contract for the sale or transfer of real property without furnishing to the purchaser a Certificate of Disclosure addressing the condition of the property, including its current lead status for real property with rental units, which Certificate shall be in a form prescribed by the Director of Building and Housing. The Certificate of Disclosure shall include all active Notices of Violation associated with the property. No transfer shall be completed without the furnishing of the Certificate of Disclosure. If the purchaser or transferee is not provided with the Certificate required by this section, the purchaser or transferee may rescind any agreement for purchase, and, if the transfer has been completed, shall have the right to demand that the transferor accept a transfer of the interest conveyed in the property and may file in any court with jurisdiction to specifically enforce that right.
(b) A request for a Certificate of Disclosure shall be accompanied by a nonrefundable fee of sixty dollars ($60.00).
(c) The requirements of division (a) and (b) of this Section 367.12 shall not apply when the real property at subject is a vacant lot, defined as a parcel that does not contain any permanent lawful occupied structure; or when both parties to the sale or transfer or contract for sale or transfer are Governmental Entities.
(Ord. No. 1039-2023. Passed 2-5-24, eff. 2-6-24)
No person, firm or corporation acting in the capacity of an escrow agent in any real estate transaction involving the sale of a dwelling building or structure situated in the City shall disburse any funds unless the provisions of Section 367.12 have been met.
(Ord. No. 1864-01. Passed 10-20-03, eff. 10-22-03)
(a) No corporation, partnership, limited-liability company or other business entity, whether domestic or foreign, shall buy, own, sell, or transfer real property in the City of Cleveland without filing articles of incorporation and identifying a statutory agent, filing articles of organization and identifying a statutory agent, or being licensed by the Ohio Secretary of State and identifying a statutory agent in accordance with RC Chapters 1701, 1702, 1703 and 1705.
(b) No officer of a corporation, partnership, limited-liability company or any other business entity shall transact business to buy, own, sell, or transfer real property in the City of Cleveland unless the business entity has filed articles of incorporation and identified a statutory agent, filed articles of organization and identified a statutory agent, or been licensed by the Ohio Secretary of State and identified a statutory agent in accordance with RC Chapters 1701, 1702, 1703 and 1705.
(c) Any corporation, partnership limited-liability company or any other business entity or officer who fails to comply with the requirements of divisions (a) and (b) of this section is in violation of this chapter and shall be charged as an organization or individual with a first degree misdemeanor. Each property bought, owned, sold, or transferred by a business entity that is not in compliance with these requirements is a separate violation.
(Ord. No. 1520-11. Passed 11-14-11, eff. 11-16-11)
Loading...