Questions about legal jargon in contract?

[HomeGuru]

Re: Ohio Revised Code

Ohio Revised Code 5313.02 Minimum contents of land installment contract; mortgage on land installment contract property; duty of vendor to record; formalities.

[snip]

(C) Within twenty days after a land installment contract has been signed by both the vendor and the vendee, the vendor shall cause a copy of the contract to be recorded as provided in section 5301.25 of the Revised Code and a copy of the contract to be delivered to the county auditor.

http://onlinedocs.andersonpublishing.com/oh/lpExt.dll?f=templates&fn=main-h.htm&cp=PORC

**A: thank you.

 

[Souix]

For Oregon, the land sale contract is not recorded because of its volume. It would be too expensive to record 20 or more pages so a Memorandum of Contract is recorded which is only one page with the attached legal description. At least thats how it was done 9 years ago when I was an escrow officer.

 

[HomeGuru]

Ok, thanks.