Ohio Real Estate Law

by Irvin,Carol Knowlton

• ISBN13: 9780324233001
• ISBN10: 0324233000
• Edition: 8th
• Format: Paperback
• Copyright: 2004-08-17
• Publisher: Oncourse Learning

Summary

Undoubtedly, the most comprehensive and completely updated guide available anywhere. This new edition is packed with the latest information on legislative changes and discussion of the newest forms supported by an online integrated learning system with illustrated case scenarios, storyboards, and practical assignments throughout delivering a complete, blended-learning tool.

Table of Contents

Case Studies	xiii
Visual Aids to Learning	xv
Preface	xvii
Acknowledgments	xvii
To The Student	xviii
Basic Law	2	(30)
Sources of Law	3	(2)
Constitutional Law
Administrative Law
Legislative Enactment
Judicial Resolution
Stare Decisis---in Action	5	(9)
Civil Law Versus Criminal Law
Court Structure	14	(1)
Trial Courts
Courts of Appeals
Supreme Courts
Arbitration and Mediation
Administrative Agencies
Civil Procedure	14	(14)
Settlement
Pleadings
Service and Summons
Primary
Pleadings
Discovery
Motion Practice
Pretrial
Trial
Judgment and Appeal
Sample Lawsuit: Breach of Contract for Real Estate Broker's Commission	28	(1)
Summary of Content	28	(1)
Review Questions	29	(2)
Answer Key	31	(1)
Land as Property	32	(22)
Real Property and Personal Property	33	(1)
Land	33	(1)
Appurtenances	34	(1)
Airspace Rights
Subsurface Rights	35	(1)
Water Rights	35	(1)
Attachments	36	(6)
Fixtures
Fixture Tests
Annexation/attachment
Fixtures and the Purchase Agreement
Fixtures Not Part of the Realty Sale
Tenants' Fixtures
Improvements	42	(1)
Growing Things
Trespass and Nuisance	43	(6)
Attractive Nuisance Doctrine
Practical Assignment	49	(1)
Summary of Content	49	(1)
Review Questions	50	(2)
Answer Key	52	(2)
Estates and Interests in Land	54	(26)
Restrictions in Land Ownership	55	(1)
Limitations Affecting All Estates and Interests in Land	56	(2)
Public Controls
Private Controls
Freehold Estates	58	(5)
Fee Simple Absolute
Qualified Fees
Life Estate
Legal Life Estate (Dower), Curtesy, and Community Property
Nonfreehold or Leasehold Estates	63	(2)
Estate for Years
Estate from Year to Year
Tenancy at Will
Tenancy at Sufferance
Incorporeal Rights in Land	65	(5)
Easements
Creation of Easements
Termination of Easements
Running with the Land
Licenses
Profits (Profits a Prendre)
Agricultural Easement	70	(1)
Line Fence Law
Estates, Interests, and Rights Versus Encumbrances	71	(4)
Practical Assignment	75	(1)
Summary of Content	75	(1)
Review Questions	76	(2)
Answer Key	78	(2)
Several and Joint Interest	80	(28)
Variety in Ownership	81	(1)
Severalty Ownership	81	(1)
Trust Ownership	82	(1)
Tenancy in Common	83	(2)
Ohio's Statutory Survivorship Tenancy and Transfer on Death Deed	85	(4)
Estate by the Entireties	89	(1)
The Choice of a Form of Coownership	90	(1)
The Cooperative	91	(2)
The Condominium	93	(10)
Characteristics of Condominiums
Principles of Condominium Law
Summary of Content	103	(2)
Review Questions	105	(2)
Answer Key	107	(1)
Deeds	108	(28)
The Deed and Transfer of Land Ownership	109	(1)
The Deed and Title to Land
Title without a Deed
The Deed and Its Recording	110	(2)
Essential Elements of the Recorded Deed	112	(6)
Release of a Spouse's Rights by Deed	118	(1)
Exception Clause and Reservations	119	(1)
Rescission and Estoppel	120	(1)
Deed Restrictions and Restrictions of Record	120	(2)
Types of Deeds	122	(8)
General Warranty Deed
Limited or Special Warranty Deed
Quitclaim Deed
Fiduciary Deed
Sheriff's and Auditor's Deeds
Practical Assignment	130	(1)
Summary of Content	130	(2)
Review Questions	132	(3)
Answer Key	135	(1)
Contracts	136	(50)
Section I	138	(1)
Theory of Contract Law
Types of Contracts	138	(1)
Statute of Frauds	138	(1)
E-Sign	139	(1)
Electronic Signatures In Global and National Commerce Act
Exceptions to Statute of Frauds	140	(1)
Elements of a Valid Contract	140	(8)
The Agreement
Consideration
Earnest Money	148	(1)
Not Consideration
Promissory Estoppel	148	(1)
Parties and Promises in Real Estate Contracts	148	(2)
Real Estate Listing Contract
Real Estate Purchase Contract
Real Estate Option Contract
Enforceability of Contracts	150	(1)
Capacity to Contract	151	(2)
Minors
Mental Infirmity
Chemical Dependency
Standing	153	(1)
Parol Evidence Rule	153	(1)
Construction of Contracts	154	(1)
Conditions within Contracts	154	(2)
Impossibility of Performance	156	(1)
Assignment	157	(1)
Novation Versus Accord and Satisfaction	157	(1)
Breach of Contract	158	(4)
Remedies and Relief
Damages
Mitigation and minimization of damages
Liquidated damages
Equitable conversion and specific performance
Rescission
Reformation
Fraud, Duress, Undue Influence, Mutual Mistake	162	(1)
Contracts Arising from Advertisements	163	(2)
Section I Summary of Content	165	(4)
Section II	169	(8)
Practical Materials
Listing Contract
Real Estate Purchase Contract
Promissory Note
Hypothetical Situations	177	(5)
Review Questions	182	(2)
Answer Key	184	(2)
Finance, Foreclosure, and Liens	186	(44)
Terminology	187	(1)
Contract for Loan Commitment	187	(11)
The Mortgage and the Promissory Note	198	(2)
Conventional Versus Unconventional Financing	200	(1)
The American Dream Down payment Act	200	(1)
Foreclosure Legal Proceedings	201	(2)
Foreclosure in the Past
Foreclosure Today
Step by Step in Foreclosure	203	(1)
Mortgage Priority	204	(1)
Home Equity Loans	205	(1)
Predatory Lending	205	(1)
Creative Financing	205	(9)
Due-on-Sale Clause/Due-on-Transfer Clause
Purchase Money Mortgage
Land Installment Purchase Contract
Mortgage
Assumption and Novation
Taking Subject to the Mortgage	214	(1)
Truth-in-Lending Law	214	(1)
Other (Nonfinancing-Based) Liens	215	(3)
Mechanic's Lien
Auditor's Lien
Federal Tax Lien
Judgment Lien
Lis Pendens Notice
Other Forced Sales of Real Property	218	(6)
Bankruptcy
Partition
Practical Assignment, Financing	224	(1)
Summary of Content	224	(2)
Review Questions	226	(2)
Answer Key	228	(2)
Closing and Proof of Title	230	(24)
Role of the Real Estate Salesperson During the Closing	231	(1)
Closing Specialists and Types of Closings	232	(5)
Formal Closing in General
Escrow Closing in General
Formal/Sit-Down (or Round-Table) Closing in Detail
Escrow Closing Compared to Formal Closing
Doctrine of Relation Back
Closing Statement	237	(1)
Prorations	238	(1)
Real Estate Settlement Procedures Act (RESPA)	239	(1)
Proof of Title and the County Recorder	240	(8)
Abstract of Title
Certificate of Title and Sellers' Affidavit of Title
Attorney's Opinion Letter
Title Guarantee and Owner's Fee
Policy of Title Insurance
Practical Assignment, Closing	248	(1)
Summary of Content	248	(2)
Review Questions	250	(2)
Answer Key	252	(2)
Agency and Liability	254	(34)
Section I	255	(4)
The Broker and the Public
Dual Agency
Split Agency
Single Agency
The Best Agency Choice
Fiduciary Obligation	259	(3)
Procuring Cause	262	(3)
CAN-SPAM Act	265	(2)
Unauthorized Practice of Law	267	(1)
Antitrust Laws	267	(2)
Section II	269	(2)
The Salesperson, the Broker's Agent
Advertising by Salespersons	271	(1)
Independent Contractor Status	272	(2)
Ohio Law
Federal Tax Law
Covenants not to Compete	274
Unlicensed Personal Assistants	273	(1)
Realtor® Status	274	(1)
Business Organizations for Brokerages	275	(7)
Practical Assignment, Agency Disclosure Form	282	(1)
Summary of Content	283	(1)
Review Questions	284	(4)
Liability: Fraud and Deceit	288	(26)
Real Estate Brokers' and Agents' Disclosure Duty	289	(1)
Liability for Nondisclosure
Theories of Recovery	290	(3)
Statutory Disclosure Form	293	(1)
Inspection Clauses Used in Purchase Agreement	294	(1)
``As Is'' Purchases	294	(5)
Remedies and Relief	299	(1)
Ohio Case Law Precedent on Defect Disclosure Law	299	(3)
Inhalation Hazards and Defect Disclosure	302	(2)
Lead-Based Paint, Asbestos and Mold
Underground Storage Tanks (USTs)	304	(1)
Stigmatized Property	305	(1)
Murder, Suicide, Ghosts, Spirits, Haunted Houses
Duties to Business Guests	305	(1)
Errors and Omissions Insurance	306	(1)
City Inspections	306	(1)
Ohio's Megan's Law	307	(1)
Practical Assignment	308	(1)
Summary of Content	309	(1)
Review Questions	310	(3)
Answer Key	313	(1)
Ohio Real Estate License Laws	314	(24)
Licensing Laws	315	(1)
Definitions (Ohio Revised Code Sections 4735.01 and 4735.02)	315	(1)
Exemptions	316	(1)
Rental Location Agents (Ohio Revised Code Section 4735.021)	316	(1)
Ohio Real Estate Commission (Ohio Revised Code Sections 4735.03 and 4735.04)	317	(1)
Ohio Real Estate License Law 283	317	(1)
Department of Commerce and Superintendent (Ohio Revised Code Section 4735.05)	317	(1)
Ancillary Trustee
Investigations, Hearings, and Actions Brought Against Licensees (Ohio Revised Code Section 4735.051)	318	(2)
Brokerage Business Names
Application for Broker's License
Nonresident Brokers and Reciprocity (Ohio Revised Code
Section 4735.08)
Salesperson's License (Ohio Revised Code Section 4735.09)	320	(1)
Issuance of License	321	(1)
Out-of-State Commercial Broker and Salesperson Licensees (Sec. 4735.022)
Regulatory Powers (Ohio Revised Code Section 4735.10)	322	(1)
Real Estate Recovery Fund (Ohio Revised Code Section 4735.12)	323	(1)
Usage of License (Ohio Revised Code Sections 4735.11 and 4735.13)	324	(1)
Continuation of License (Ohio Revised Code Section 4735.14)	325	(1)
Continuing Education Requirements (Ohio Revised Code Section 4735.141)	325	(1)
Business Location, Advertising, and Registration (Ohio Revised Code Section 4735.16)	326	(1)
Ohio Real Estate License Law
Nonresidents (Ohio Revised Code Section 4735.17)	326	(1)
Suspension or Revocation of Licenses (Ohio Revised Code Section 4735.18)	327	(3)
Penalties (Ohio Revised Code Section 4735.99)
Practices and Procedures	330	(1)
Record Keeping (Ohio Revised Code Section 4735.19)
Ability to Maintain Suit (Ohio Revised Code Section 4735.21)
Foreign Real Estate (Ohio Revised Code Sections 4735.25--4735.30)	330	(1)
Commission Payments to Affiliated Licensees (Sec. 4735.20)	331	(2)
Ohio Division of Real Estate and Ohio Association of REALTORS®	332	(1)
Practical Assignment	333	(1)
Summary of Content	333	(1)
Review Questions	334	(2)
Answer Key	336	(2)
Fair Housing	338	(32)
Civil Rights Act of 1866 and Jones v. Mayer	339	(1)
Fair Housing Act	340	(1)
Relief and Remedies under Section 1982 and the Fair Housing Act	341	(1)
Statutory Language of the Fair Housing Act	342	(1)
Advertising	343	(1)
Department of Housing and Urban Development (HUD)	343	(1)
State Legislation and the Ohio Civil Rights Law	343	(3)
Restrictive Deed Covenants	346	(1)
Specific Offenses and Proving Them	346	(4)
Blockbusting
Steering
Evidence
Testing
Lending Protection	350	(2)
Justice Department	352	(1)
Standing	353	(1)
First Amendment Rights	353	(1)
Fair Housing Poster	354	(1)
Affirmative Action	355	(6)
Hypothetical Situations	361	(3)
Practical Assignment, Fair Housing	364	(1)
Summary of Content	364	(2)
Review Questions	366	(2)
Answer Key	368	(2)
Control and Regulation of Land	370	(22)
Zoning	371	(6)
Uses of Land
Cumulative versus Exclusive Zoning
Conforming and Nonconforming Uses
Variances
Spot Zoning and Rezoning
Conditional Zoning
Procedure in Zoning Cases
Incentive Zoning
Aesthetics
Planned Unit Developments (PUDs) and Zero Lot Lines
Eminent Domain	377	(1)
Building and Health Departments	378	(1)
Exclusionary Zoning	379	(1)
The Interstate Land Sales Full Disclosure Act	380	(1)
Americans with Disabilities Act	380	(1)
Environmental Law	381	(5)
Wetlands
Practical Assignment	386	(1)
Summary of Content	386	(2)
Review Questions	388	(2)
Answer Key	390	(2)
Landlord--Tenant Law	392	(20)
Fundamentals of Leases	394	(2)
Renewal of Leases	396	(1)
Termination	397	(1)
Part Performance	398	(1)
Payment of Rent	398	(1)
Condition of the Premises	399	(1)
Tenants Possession of the Premises	400	(1)
Drug Use	401
Retaliatory Eviction	41	(360)
Depositing Rent in Court	401	(2)
Defenses to Rent Deposit
Partial Release of Rent by Court
Security Deposits	403	(1)
Personal Injury on the Premises	403	(1)
Commercial Leases	404	(2)
Practical Assignment, Landlord--Tenant	406	(1)
Summary of Content	407	(1)
Review Questions	408	(3)
Answer Key	411	(1)
Decedents' Estates	412	(25)
Statute of Descent and Distribution	413	(1)
Wills	414	(6)
Requirements for Making Valid Wills
Devise
Exclusions
Revoking or Changing Wills
Guardian
Executor or Administrator
Probate Court
Will Contest
Power of Attorney (Attorney-in-Fact)	420	(4)
Trusts	424	(2)
Putting It All Together	426	(5)
Practical Assignment	431	(1)
Summary of Content	431	(1)
Review Questions	432	(3)
Answer Key	435	(2)
Glossary	437	(16)
Index	453