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The Uniform Transfers To Minors Act (UTMA) is a uniform act drafted and recommended by the National Conference of Commissioners on Uniform State Laws in 1986, and subsequently enacted by all U.S. States, which provides a mechanism under which gifts can be made to a minor without requiring the presence of an appointed guardian for the minor, and which satisfies the Internal Revenue Service ...
In the context of property law it can be restated as: "In a property dispute (whether real or personal), in the absence of clear and compelling testimony or documentation to the contrary, the person in actual, custodial possession of the property is presumed to be the rightful owner. The rightful owner shall have their possession returned to ...
In central Ohio, the commission is often 3% of the sales price to each. A seller, for example, would pay a total of $18,000 ($9,000 to agents on each side) on the sale of a $300,000 home.
The Ohio Department of Commerce is the administrative department of the Ohio state government [1] responsible for regulating banks and savings institutions, credit unions, mortgage brokers/lenders and consumer finance businesses; securities professionals and products; real estate professionals and cable television; and the building industry; and also collects and holds unclaimed funds. [2]
Sep. 24—Division of Real Estate and Professional Licensing amps up customer service COLUMBUS — The Ohio Department of Commerce Division of Real Estate and Professional Licensing is excited to ...
A custodial account is a financial account (such as a bank account, a trust fund or a brokerage account) set up for the benefit of a beneficiary, and administered by a responsible person, known as a legal guardian or custodian, who has a fiduciary obligation to the beneficiary. [1]
Here’s how custodial accounts work.
Here A has the possession, B has an apparent right of possession (as evidenced by the purchase), D has the absolute right of possession (being the best claim that can be proven), and the heirs of E, if they knew it, would have the right of property, which they however could not prove. A good title consists of the combination of these three ...