Ohio Code § 4707.262
Ohio Code § 4707.262. Reproduced from the official Ohio Revised Code, with a citation summary, verification link, and related provisions.
§ 4707.262.
A person who has sustained actual and direct losses in the course of a real estate
auction transaction and who believes that they may qualify to seek recovery for the
losses from the real estate recovery fund in accordance with section 4735.12 of the Revised Code or from the auction recovery fund shall apply to a court of competent jurisdiction
for a determination of the fund from which the person should seek recovery if either
or both of the following apply: (A) The transaction involves both of the following: (1) A violation of Chapter 4735. of the Revised Code; (2) A violation of this chapter or rules adopted under it or conduct that is described
in section 4707.15 of the Revised Code . (B) The person is unclear as to the fund from which recovery should be sought. Upon receipt of an application under this section, the court shall determine whether
it appears that conduct or a violation described in division (A) of this section occurred
and also shall determine, in its discretion, the appropriate fund from which the person
should seek recovery and notify the person of the determination. In the event that the court determines the person is able to recover from both the
real estate recovery fund and the auction recovery fund, the total aggregate amount
that is paid to the person from both the funds shall not exceed the actual and direct
losses sustained by the person. In addition, the total aggregate amount that is paid to the person from both the
funds shall not exceed the dollar limitations established in section 4707.29 of the Revised Code , and the portion of that total aggregate amount that is paid from the real estate
recovery fund shall not exceed the dollar limitations established in division (D) of section 4735.12 of the Revised Code . For purposes of division (B)(4)(d) of section 4735.12 of the Revised Code , with respect to recovery from the real estate recovery fund, a person shall not
be required first to seek recovery from the auction recovery fund in order to be considered
to have diligently pursued the person's remedies.
Source: official Ohio text · Last verified 2026-08-27
At a glance
- Citation: Ohio Revised Code § 4707.262
- Jurisdiction: Ohio
- Code: Ohio Revised Code
- Text: transcribed from the official source (verify below)
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Statute text is transcribed from the official Ohio Revised Code. Confirm it against the primary source before relying on it:
Not legal advice. Verify against the official source and consult a licensed Ohio attorney.
Common questions
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What subject does Ohio Revised Code § 4707.262 address?
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Is Ohio Revised Code § 4707.262 still in force?
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