In Ohio, certain counties utilize the Auditor's Transfer Acknowledgment process. When submitting a deed for recording, the conveyance fee statement (DTE form) must accurately state the consideration. If the stated consideration is found to be fraudulently understated to reduce the conveyance fee, the seller may face:
Correct Answer
A) A penalty equal to the unpaid conveyance fee plus interest and potential criminal charges for fraud
Fraudulently understating the consideration on the DTE form to reduce the conveyance fee is a violation of Ohio law. The seller may face a penalty equal to the unpaid fee plus interest, and intentional fraud in the DTE statement can result in criminal charges.
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