Banking & Finance Law Report

Tag Archives: real

Lending License Required for Real Estate Commission Financing

In a triumph of substance over form, on August 22, 2013, the Tenth Appellate District Court of Appeals disregarding self-serving labels and further clarified the distinction between a loan and a sale of accounts receivable in Fenway Financial, LLC dba Commission Express v. Greater Columbus Realty, LLC dba Keller Williams Greater Columbus Realty, LLC, No. 12AP-291.┬áTo cut to the chase, the Court found that regardless of the buzz words used, leaving the seller of an account receivable with the risk of collectability is a key factor in characterizing a transaction as a loan, not as a sale, and may implicate state loan licensing requirements and other statutes, including provisions dealing with the scope of UCC Article 9.…

Ohio property data to remain free online

Put your wallet away and hit print as many times as you like. Because for now, there will be no new charge to download or print property records in Ohio.

As a welcomed early holiday gift, the proposal to charge fees for property records has died in committee. The office of Senate Judiciary Committee chair Senator Mark Wagoner announced last week that the Ohio Recorders’ Association proposal to authorize county offices to charge for downloading or printing public records from their government-funded websites will not be part of House Bill 247, which is pending before the Judiciary Committee.…