§ 872-11. Property Disclosure Form for Residential Real Property Transfers.

(a)

When Property Disclosure Form is Applicable: This section applies to any transfer of residential real property that occurs on or after October 1, 2004, by residential lease option contract. For purposes of this section, a transfer occurs when the initial contract for transfer is executed, regardless of when legal title is transferred, and references in this section to transfer offers and transfer agreements refer to offers and agreements in respect of the initial contract for transfer.

Except as provided in division (D) of this section, every person who intends to enter into a residential lease option contract and/or transfer any residential real property on or after October 1, 2004, by residential lease option contract shall complete all applicable items in a property disclosure form required by Section 5302.30 of the Ohio Revised Code and shall deliver in accordance with the requirements of Section 5302.30 of the Ohio Revised Code. Additionally, a signed and dated copy of the completed form shall be delivered to each prospective tenant or his agent as soon as is practicable, according to the requirements of Section 5302.30 of the Ohio Revised Code.

(b)

Property Disclosure Form Contents: Residential Lease Option Contracts shall include a Residential Property Disclosure Form. The Residential Property Disclosure Form (the "form") shall be the State of Ohio Department of Commerce, Residential Property Disclosure Form (Form OAC 1301:1-4-10), required pursuant to Section 5302.30 of the Ohio Revised Code and Rule 1301:1-4-10 of the Ohio Administrative Code.

Generally, this form is designed to disclose material matters relating to the physical condition of the property to be transferred, including, but not limited to, the source of water supply to the property; the nature of the sewer system serving the property; the condition of the structure of the property, including the roof, foundation, walls, and floors; the presence of hazardous materials or substances, including lead-based paint, asbestos, urea-formaldehyde foam insulation, and radon gas; and any material defects in the property that are within the actual knowledge of the landlord.

(c)

The form shall be governed by Section 5302.30 of the Ohio Revised Code. All requirements under Section 5302.30 of the Ohio Revised Code must be complied with as part of a Residential Lease Option Contract.

(Ordained by Ord. No. 327-2004, eff. Nov. 5, 2004)