Qualification Of Foreign Real Estate Form. This is a Ohio form and can be use in Department Of Commerce Statewide.
Tags: Qualification Of Foreign Real Estate, COM 3620, Ohio Statewide, Department Of Commerce
Ohio Department of Commerce . Governor The Division of Real Estate & Professional Licensing 77 S. High Street ! 20th Floor Columbus, OH 43215-6133 (614) 466-4100 FAX (614) 644-0584 www.com.ohio.gov . Director FOR DIVISION USE ONLY File Number Filing Fee ($500.00) Registration (Refused, Granted, Withdrawn) Qualification Fee ($1.00 per interest) FORM 25 QUALIFICATION OF FOREIGN REAL ESTATE (Pursuant to Section 4735.25 of the Ohio Revised Code) INSTRUCTIONS: 1. 2. 3. 4. 5. 6. 7. This form is for registration of interests in real estate situated outside of Ohio’s boundaries. Interests include, but are not limited to lots, homesites, condominiums, cooperatives, timeshare interval weeks, and other improved and unimproved sites and interests. A completed CONSENT TO SERVICE OF PROCESS [COM 3619] must accompany this application. Incomplete registration forms will delay approval of the application. Registration forms must be typed in black ink only and notarized. The filing fee for every Form 25 filing is $500.00. The qualification fee is one dollar per lot, homesite, unit, interval week, or interest up to a maximum of $2,000.00. A check, certified check or money order payable to the Ohio Division of Real Estate must accompany this application. The filing and qualification fees are nonrefundable. Do not send cash. Purpose of Form 25 Filing: Original Filing Renewal Consolidation Other (Specify) 1. Name of Developer (Applicant): 2. Federal Tax ID Number: 3. Address of Developer (Street, City, State, Zip): 4. Phone Number: 5. Name of Development: 6. Address of Development (Street, City, State, Zip): 7. Is the Development complete? Yes No, if not attach projected completion schedule 8. What type of offering is this? Land only; Land and single family residence; Condominium; Timesharing; Other (specify) 8a. Total number of lots / units / 8b. Number of lots / units / 8c. Number of lots / units / timeshare interval weeks in timeshare interval weeks that have timeshare interval weeks to be development. been sold prior to the filing of this registered for sale in Ohio. application. 9. Has the development been registered for sale in the state where it is located? Yes No 9a. If YES, attach a copy of the documents provided to the situs state’s registering agency. 9b. If NO, is the development exempt from registration in the state where it is located? Yes No 10. Submit the following development-related documents: a. Copy of the enabling declaration and by-laws. b. Copy of any rules, regulations or restrictions regarding use of the lot / unit. c. Copy of the articles of incorporation and by-laws of the property owner’s association. d. Copy of the management contract. e. List of estimated annual maintenance and use fees charged to purchaser. f. List of the unit’s furniture and personal property provided for the purchaser’s use. 11. Submit an appraisal for the lots / units to be registered. If an appraisal is not available, indicate the market value of three comparable development’s lots / units in the immediate area. (Include property descriptions and descriptions of the amenities for the comparable lots / units). American LegalNet, Inc. www.FormsWorkflow.com 12a. If the Developer is a corporation, attach: 1. Articles of Incorporation with a list of the names and addresses of the Directors and Officers, and 2. By-Laws, and 3. Authorization to do business in Ohio. 12b. If the Developer is a partnership, attach: 1. A copy of the partnership agreement, and 2. A list of the names and addresses of all general partners. 12c. If the Developer is other than an individual, corporation, or partnership, attach: 1. A brief description of the form of organization, and 2. A list of the names and addresses of the principals. 13. Name and address of County Recording Agency (eg. County Recorder) 14a. List states where this property has been qualified for sale: 14b. List states where applications(s) for registration are pending: 14c. List states where this property has been refused for registration or qualification: 15. Have you filed a prospectus or other disclosure documents required by state or federal law? Yes, please attach an actual copy No 16. Name(s) of Ohio Licensed Foreign Real Estate Dealers(s) who will represent the developer: 17. Methods of Solicitation and Sale in State of Ohio: 18. Attach the Following: a. Legal description and title opinion or title insurance policy showing good title vested in the developer. b. A list and description of all liens and encumbrances. c. A list of all building restrictions and other restrictions. d. A map or plat showing the location and dimensions of the real estate lots / units. e. A list of providers of the following utilities and services: water, sewer, gas, electric, interior roads, exterior roads, telephone, cable TV, police and fire protection. f. A list of all development amenities (i.e. pool, golf course, tennis courts). g. A list of all development improvements to be made or completed for the property, showing their costs, actual or expected completion date and any security for their completion. h. A copy of the mortgage agreement, that indicates by underlining in red, the release to unit purchasers i. Price list, rate of interest charged, and commission schedule j. Contract of sale and any other documents to be provided to purchaser k. Current audited financial statement of owner(s), and if unaudited, the owner’s affidavit stating that the unaudited financial statement accurately depicts their financial condition. l. A completed Consent to Ohio Service of Process form (Form 25SOP). _________________________________________ Authorized Signor STATE OF __________________________ SS: COUNTY OF ________________________ SWORN TO before me and subscribed in my presence this ________day of ______________, _____________. (Month) (Year) ___________________________________________ Notary Public Communications regarding this application should be sent to: Name: Phone Number: Address (Street): Fax Number: Address (City, State, Zip): Email Address: Com 3620 (Rev. 01/2003) American LegalNet, Inc. www.FormsWorkflow.com