A newly licensed Ohio real estate agent is studying for her continuing education. She learns that Ohio counties may adopt a permissive conveyance fee. This county fee requires approval by:
Correct Answer
C) The County Commissioners through a resolution
Under ORC §322.02, the county permissive conveyance fee is adopted by the County Commissioners through a resolution. It does not require voter approval or state-level authorization beyond the existing statutory framework.
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A title company in Ohio handles a closing where the property is being sold by an estate. The executor provides a fiduciary deed. Regarding the conveyance fee:
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A seller in Ohio closes on a property sale but the title company fails to pay the conveyance fee to the County Auditor within the required timeframe. What is the MOST likely consequence?