Ohio Code 5315.02 – Rules
Current as of: 2023 | Check for updates
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To assist in the establishment of the D.O.L.L.A.R. deed program, the Ohio housing finance agency shall adopt in rule all of the following:
Terms Used In Ohio Code 5315.02
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
- Rule: includes regulation. See Ohio Code 1.59
(A) A model form by which a person may apply to participate in the program;
(B) A model for the deed, which act shall as the deed in lieu of foreclosure described in division (A)(1) of section 5315.04 of the Revised Code;
(C) A model for the lease with option to purchase agreement described in divisions (A)(2) and (3) of section 5315.04 of the Revised Code;
(D) Any other rules necessary to implement this chapter.