Bill Text: OH HB274 | 2011-2012 | 129th General Assembly | Engrossed

NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: To provide that a transfer fee for purposes of a transfer fee covenant does not include any payment required pursuant to a conservation easement or agricultural easement, to authorize the conveyance of the water rights of certain state-owned real estate to the Wayne County Board of County Commissioners, and to authorize the conveyance of state-owned real estate in Richland County to the Mansfield Reformatory Preservation Society.

Spectrum: Bipartisan Bill

Status: (Passed) 2013-03-22 - Effective Date [HB274 Detail]

Download: Ohio-2011-HB274-Engrossed.html
As Passed by the House

129th General Assembly
Regular Session
2011-2012
H. B. No. 274


Representative Letson 

Cosponsors: Representatives Bubp, Antonio, Brenner, Combs, Derickson, Foley, Mallory, Milkovich, Murray, O'Brien, Okey, Ramos, Szollosi, Winburn, Yuko Speaker Batchelder 



A BILL
To amend section 5301.057 of the Revised Code to 1
provide that a transfer fee for purposes of a 2
transfer fee covenant does not include any payment 3
required pursuant to a conservation easement or 4
agricultural easement.5


BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:

       Section 1. That section 5301.057 of the Revised Code be 6
amended to read as follows:7

       Sec. 5301.057.  (A) As used in this section:8

       (1) "Environmental covenant" means a9

       (a) A servitude that imposes activity and use limitations on 10
real property and meets the requirements of section 5301.82 of the 11
Revised Code;12

       (b) A conservation easement or agricultural easement as 13
defined in section 5301.67 of the Revised Code.14

       (2) "Transfer" means the sale, gift, conveyance, assignment, 15
inheritance, or other transfer of an ownership interest in real 16
property located in this state.17

       (3) "Transfer fee" means a fee or charge required by a 18
transfer fee covenant and payable upon the transfer of an interest 19
in real property, or payable for the right to make or accept such 20
a transfer, regardless of whether the fee or charge is a fixed 21
amount or is determined as a percentage of the value of the 22
property, the purchase price, or other consideration given for the 23
transfer. The following are not transfer fees for purposes of this 24
section:25

       (a) Any consideration payable by the grantee to the grantor 26
for the interest in real property being transferred. For the 27
purposes of division (A)(3)(a) of this section, an interest in 28
real property includes a separate mineral estate and its 29
appurtenant surface access rights.30

       (b) Any commission payable to a licensed real estate broker 31
for the transfer of real property pursuant to an agreement between 32
the broker and the grantor or the grantee, including any 33
subsequent additional commission for that transfer payable by the 34
grantor or the grantee based upon any subsequent appreciation, 35
development, or sale of real property;36

       (c) Any interest, charges, fees, or other amounts payable by 37
a borrower to a lender pursuant to a loan secured by a mortgage 38
against real property;39

       (d) Any rent, reimbursement, charge, fee, or other amount 40
payable by a lessee to a lessor under a lease;41

       (e) Any consideration payable to the holder of an option to 42
purchase an interest in real property or the holder of a right of 43
first refusal or first offer to purchase an interest in real 44
property for waiving, releasing, or not exercising the option or 45
right upon the transfer of the property to another person;46

       (f) Any tax, fee, charge, assessment, fine, or other amount 47
payable to or imposed by a governmental authority;48

       (g) Any fee, charge, assessment, fine, or other amount 49
payable to a homeowners, condominium, cooperative, mobile home, or 50
property owners association pursuant to a declaration or covenant 51
or law applicable to the association;52

       (h) Any payment required pursuant to an environmental 53
covenant.54

       (4) "Transfer fee covenant" means a declaration or covenant 55
recorded against the title to real property that requires or 56
purports to require the payment of a transfer fee to the declarant 57
or other person specified in the declaration or covenant or to 58
their successors or assigns upon a subsequent transfer of an 59
interest in the real property.60

       (B) A transfer fee covenant recorded in this state on or 61
after the effective date of this sectionSeptember 13, 2010, does 62
not run with the title to real property and is not binding on or 63
enforceable against any subsequent owner, purchaser, or mortgagee 64
of any interest in real property as an equitable servitude or 65
otherwise. 66

       (C) Any lien purporting to secure the payment of a transfer 67
fee under a transfer fee covenant that is recorded in this state 68
on or after the effective date of this sectionSeptember 13, 2010,69
is void.70

       Section 2. That existing section 5301.057 of the Revised Code 71
is hereby repealed.72

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