Terms Used In Ohio Code > Chapter 5315 - D.O.L.L.a.R. Deed Program

• Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
• Another: when used to designate the owner of property which is the subject of an offense, includes not only natural persons but also every other owner of property. See Ohio Code 1.02
• Borrower: includes the original borrower's successor in interest. See Ohio Code 5315.01
• Contract: A legal written agreement that becomes binding when signed.
• 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}
• Home affordable modification program: means the home affordable modification program established by the United States departments of the treasury and housing and urban development pursuant to 12 U. See Ohio Code 5315.01
• in writing: includes any representation of words, letters, symbols, or figures; this provision does not affect any law relating to signatures. See Ohio Code 1.59
• 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}
• Lender: includes the person entitled to enforce the instrument secured by the mortgage under division (A)(1) or (2) of section 1303. See Ohio Code 5315.01
• Lien: A claim against real or personal property in satisfaction of a debt.
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• Mortgage: means the instrument securing an obligation to pay a sum of money evidenced by a note of indebtedness and secured by a lien on the borrower's real property. See Ohio Code 5315.01
• Mortgagee: The person to whom property is mortgaged and who has loaned the money.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
• Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
• Property: means real and personal property. See Ohio Code 1.59
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Rule: includes regulation. See Ohio Code 1.59
• United States: includes all the states. See Ohio Code 1.59