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On March 15, 2024, The National Association of Realtors®(“NAR”) reached a settlement agreement (“Settlement”) with plaintiff home sellers, which resolved multiple class action lawsuits alleging anti-competitive practices. The nature of these lawsuits mostly centered on broker commissions
There comes a time in the life cycle of every business where it becomes necessary—or maybe just desirable—for the ownership of the business to change hands. For some business owners, that time arises simply because they feel it is time to do something else, they’ve received an offer that can’t be refused, or because of changes in market conditions.
This article will compare and contrast Kentucky law and Ohio law pertaining to planned communities. Ohio Planned Community Law (§§ 5312.01 – 5312.16) (the “Ohio Act”) (the Kentucky Act and Ohio Act are collectively referred to as the “Acts”) took effect on September 10, 2010 and has thus been in existence in longer than the Kentucky Act.
This is the second article in a series on Kentucky’s Planned Communities statute (KRS §§ 381.785 – 381.801) (the “Act”), which provides guidance to developers in the greater Cincinnati area.
Kentucky’s Planned Communities statute (KRS §§ 381.785 – 381.801) (the “Act”) took effect on June 29, 2023. This is an important update for real estate developers in the greater Cincinnati area because, prior to the Act and unlike states like Ohio, Kentucky did not have any statutes that addressed planned communities.
Strauss Troy is pleased to welcome Steffany E. Carrigan as our newest real estate legal assistant in our Cincinnati office.
Over the past several weeks, Ohio property owners have received written notices of their new property values for tax year 2023 from their county auditor’s office.
Ohio recognizes legal doctrines that can give you ownership or a right to use or access another’s property without an explicit agreement between you and the other property owner. The doctrines that can provide ownership of another’s property are: adverse possession, acquiescence, and estoppel. Another doctrine, prescription (also called a prescriptive easement), allows you to use or access another’s property without obtaining actual ownership. In considering the differences between these doctrines, it is important to determine whether you seek ownership of use/access to a certain property.
Bitcoin. Ether. Dogecoin. Blockchain. Digital wallet. You may have heard these terms before, but for many, the words are just lingo for a high-tech, mysterious world of cryptocurrency they know little about. Elon Musk tweets about it. Tech companies like Microsoft accept it as payment. As cryptocurrency inches its way into our awareness, it inches its way into commerce. But do we really understand anything about it?
Dear Client:The Infrastructure Investment and Jobs Act of 2021 (IIJA) was signed into law on Nov. 15, 2021. The IIJA includes IRS information reporting requirements that will require cryptocurrency exchanges to perform intermediary Form 1099 reporting for cryptocurrency transactions. Generally, these rules will apply to digital asset transactions starting in 2023.
On April 27, 2021, Governor Mike DeWine signed the unprecedented Ohio Senate Bill 57 into law. This new law allows an owner or tenant of an income-producing property impacted by COVID-19 (or by state orders associated with COVID-19) to file a “special” property tax valuation complaint. Property tax bills are generally calculated as of January 1 of each year. However, since COVID-19 did not impact Ohio businesses until around March 2020, a January 1 tax lien date does not take its challenging effects into account.
Did you recently get slapped with a surprisingly high property tax bill? Consider applying for a reduction of your property’s taxable value at your county’s board of revision. Your property tax bill is calculated as a percentage of the auditor’s assessed value of your property. Every three years, Ohio county auditors re-assess the values of all residential and commercial properties in their counties.
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