Lawriter - OAC - 4733-38-01 Preamble.

4733-38-01 Preamble.

These standards are intended to be the minimum requirements for mortgage location surveys in the state of Ohio.

A "mortgage location survey" shall be defined as an instrumentality, common to the mortgage lending industry, whereby substantial proof is submitted to the mortgage lender and/or title insuror that the building(s) and/or other improvements are actually located on the land covered by the legal description in the mortgage and that said mortgage location survey is a professional service provided by professional surveyors solely for the intent of and use by the mortgagee and/or title insuror. The mortgage location survey does not constitute an improvement to the property, and is only a professional opinion which these parties may use as a guide to arrive at any decisions they may wish to make concerning said real property.

R.C. 119.032 review dates: 05/09/2014 and 05/09/2019
Promulgated Under: 119.03
Statutory Authority: 4733.07
Rule Amplifies: 4733.20
Prior Effective Dates: 02/15/1990