The Ohio Legislature recently enacted a statute, effective September 28th, that requires that owners of residential rental property file with the County Auditor: The name, address and telephone number of the owner; The street address and parcel number of the property; and If the property is leased, the year the building was built.If the property is owned by an entity, the name, address and phone number of a designated person is required. For instance: A general partner if it is owned by a partnership; A member, manager or officer of a limited liability company; An officer if it is owned by a corporation; A trustee if it is owned by a trust; or An executor or administrator if it is in an estate. The information is to be updated within ten days if it ever changes.Out-of-state residents have additional obligations.The penalty for not registering (it is a minor misdemeanor) is a fine of not more than $150 and/or a term of community service of up to 30 hours.Who is it who said “Life and property are not safe while the legislature is in session” ?In Franklin County, you can register on-line with the County Auditor at his website at: http://www.franklincountyauditor.com I talked to the auditor’s representative today, (because the place to register is not yet “up” on the site) and he says the registration notice and materials will be emblazoned across the site by the end of the week.
If you want additional information on the legislation, you can get a copy at: http://www.legislature.state.oh.us/bills.cfm?ID=126_HB_294
Do you have questions about distressed assets, receivership or bankruptcy sales, auctions? Email me at rfk@gryphonusa.com and I'll try to answer it in an upcoming post.
Richard F. Kruse is the President of Columbus, Ohio based Gryphon USA, Ltd. (www.gryphonusa.com). The Gryphon Organization includes Gryphon Asset Management providing receivership and consulting services in the distressed marketplace, United Country Gryphon Realty & Auction Group (www.ucohiorealty.com & www.ucohioauctions.com) providing real estate brokerage and auction services throughout Ohio and OnlineAuctionUSA.com (www.onlineauctionusa.com) providing commercial asset liquidations from the Midwest to East Coast.
United Country Gryphon Realty & Auction Career Opportunities Available. Call 614-885-0020 x 17
