1993 Changes in the Law:
Ohio Seller of Real Estate Must Disclose Defects

Sellers, and buyers, of real estate in Ohio should be aware that Ohio has a new real esate disclosure law. O.R.C. Section 5302.30 now provides that, except in specific excluded transactions, the seller of residential real property must disclose to the buyer, on a disclosure form to be prescribed by Ohio's Director of Commerce, a number of material matters relating to the physical condition of the property. If the seller fails to give the buyer a completed disclosure form, the buyer may be able to rescind the contract.

Some of the things that must be disclosed to the purchaser of real property in Ohio include: information about the source of water supply; the type of sewer system servicing the property; information concerning structural matters (including the roof, foundation, walls, and floors); whether or not any hazardous materials (including lead-based paint) are present; and a disclosure of any material defects in the property that are within the actual knowledge of the seller.

Therefore, if you are contemplating purchasing or selling a real estate in Ohio, it is important to know your rights -- rights that guarantee that truthful and accurate information is known by both buyer and seller prior to purchase or sale of Ohio real estate.