Originally Posted By: Nick Gromicko
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Ohio: Property Disclosure Form Set for Jan. 1
(December 15) -- Starting January 1, 2004, Ohio real estate agents and brokers must use a new residential property disclosure form issued by the Ohio Division of Real Estate and Professional Licensing. The new form covers areas not contained in the old form, including questions on boundary lines, assessments, shared driveways, and historic building districts. The revised form also includes a statement that the owner is not making any representations regarding off-site conditions and that buyers should investigate such matters on their own.
The revised form grew out of the activities of a task force appointed by the Ohio Association of REALTORS? (OAR) to review Ohio's disclosure practices. After evaluating procedures in 20 other states, the task force did not recommend changes to the law but did suggest the addition of some items on the form, according to Margaret Ritenour, vice president of legal services at the OAR. REALTORS? may not use the form until Jan. 1, 2004. Old forms executed by sellers prior to Jan. 1 are still valid after that date, and sellers do not need to complete a new form after Jan. 1.
?By Jane Adler for REALTOR? Magazine Online