The change to the “good funds” law was initiated by the Ohio Land Title Association and was supported by lenders and credit unions. These amendments were sought as a result of numerous instances of escrow agents receiving fraudulent money orders and cashier’s checks. According to OLTA, this legislation is designed to protect consumers from fraud, preserve the integrity of funds that are held and disbursed in a real estate transaction, and to create efficiency for service providers.
Issues & Legislation
The below is an update provided by Cuyahoga Councilman Dale Miller.
On Tuesday, April 12th, County Council passed a very significant piece of legislation that will assist with the MetroHealth Hospital Campus Transformation Project. This
Earlier this month Gov. John Kasich unveiled his Fiscal Years ’18-’19 Ohio budget. In an ongoing effort to reform the state’s tax policies and make Ohio a more attractive place to do business the Governor has proposed a positive change to our municipal income tax collection system.
According to a press release from Maple Heights:
The Maple Heights City Council passed an Ordinance at their regular Council Meeting on Wednesday, February 1, 2017, waiving for the period January 2, 2017 through December 31,
REALTORS® are gearing up for what is expected to be a busy first three months of the legislative season as a new Congress and new Administration tackle a number of priorities that affect real estate, including tax reform, the Affordable Care Act, regulatory reform, reauthorization of federal flood insurance, and what to do about Fannie Mae and Freddie Mac.