Ohio § 4707.262
Full text of Ohio Ohio Revised Code § 4707.262, with citation guidance and answers to common questions.
§ 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.
Frequently Asked Questions About Ohio § 4707.262
What does Ohio Revised Code § 4707.262 cover?
Section 4707.262 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 4707.262?
A common citation format is "Ohio Revised Code § 4707.262" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 4707.262 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.