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Guardian Title Names New President -  February, 2005

Edward Asher and the Board of Directors announce that Michael P. Maniche is back at Guardian Title and Guaranty Agency, Inc. Michael was appointed President of Guardian Title. He brings 20 years of title company experience to Guardian Title. Michael was the President of Stewart Title Agency of Ohio Inc. for the past five years, and prior to that the Director of Sales for Guardian Title Agency for 7 years. He is very active in the Real Estate community in the Greater Cleveland Area. Michael is married with 2 daughters, ages 19 and 14. In his leisure he enjoys golf, exercise, cooking and wine-tasting.

IMPORTANT NOTICE - Effective February 1, 2002

Under certain situations and on certain documents, recent changes in the Ohio Revised Code, Section 5301, et al., eliminate the need for witnesses on documents filed with the County Recorder's Office. In lieu of the witness requirement these changes will require only an execution signature of the Grantor(s) and an attestation statement and signature of the person to whom the Grantor attested his signature (in most cases this will be a notary public).

August 29, 2000 Transfer on Death Deed

Am. Sub. H.B. No 313 has passed both houses of the state legislature. Part of this bill creates Sections 5302.22 and 5302.23 of the Ohio Revised Code. 

Sections 5302.22 and 5302.23 established Transfer on Death Deeds for the State of Ohio. 

Section 5302.22 provides:

(A) A deed conveying any interest in real property, and in substance following the form set forth in this division, when duly executed in accordance with Chapter 5301 of the Revised Code and recorded in the office of the county recorder, creates a present interest as sole owner or as a tenant in common in the grantee and creates a transfer on death interest in the beneficiary or beneficiaries. Upon the death of the grantee, the deed vests the interest of the decedent in the beneficiary or beneficiaries. 

(B) Any person who, under the Revised Code or the common law of this state, owns real property or any interest in real property as a SOLE OWNER or TENANT IN COMMON (emphasis added) may create an interest in the real property transferable on death by executing and recoding a deed as provided in this section conveying the person's entire, separate interest in the real property to one or more individuals, including the grantor, and designating one or more other persons, identified in the deed by name, as transfer on death beneficiaries. A deed conveying an interest in real property that includes a transfer on death beneficiary designation need not be supported by consideration and need not be delivered to the transfer on death beneficiary to be effective. 

(C) Upon the death of any individual who owns real property or an interest in real property that is subject to a transfer on death beneficiary designation made under a transfer on death deed as provided in this section, the deceased owner's interest shall be transferred only to the transfer on death beneficiaries who are identified in the deed by name and who survive the deceased owner or that are in existence on the date of death of the deceased owner. The affidavit shall recite the name and address of each designated transfer on death beneficiary who survived the deceased owner or that is in existence on the date of the deceased owner's death, the date of the deceased owner's death, a description of the subject real property, and the names of each designated transfer on death beneficiary who has not survived the deceased owner or that is not in existence on the date of the deceased owner's death. The affidavit shall be accompanied by a certified copy of a death certificate for each designated transfer on death beneficiary who has not survived the deceased owner. The recorder shall make an index reference to any affidavit so filed in the record of deeds. 

Upon the death of any individual holding real property or an interest in real property that is subject to a transfer on death beneficiary designation made under a transfer on death deed as provided in this section, if the title to the real property is registered pursuant to Chapter 5309 of the Revised Code, the procedure for the transfer of the interest of the deceased owner shall be pursuant to section 5309.081 of the Revised Code. 

Section 5302.23 provides: 

(A) Any deed containing language that shows a clear intent to designate a transfer on death beneficiary shall be liberally construed to do so. 

(B) Real property or an interest in real property that is subject to a transfer on death beneficiary designation as provided in section 5302.22 of the Ohio Revised Code or as described in division (A) of this section has all of the following characteristics and ramifications: 

(1) an interest of the deceased owner shall be transferred to the transfer on death beneficiaries who are identified in the deed by name and who survive the deceased owner or that are in existence on the date of the deceased owner's death. If there is a designation of more than one transfer on death beneficiary, the beneficiaries shall take title in the interest in equal shares as tenants in common. If a transfer on death beneficiary does not survive the deceased owner or is not in existence on the date of the deceased owner's death, and the deceased owner has designated one or more persons as contingent transfer on death beneficiaries as provided in division (B)(2) of this section, the designated contingent transfer on death beneficiaries shall take the same interest that would have passed to the transfer on death beneficiary had that transfer on death beneficiary survived the deceased owner or been in existence on the date of the deceased owner's death. If none of the designated transfer on death beneficiaries survives the deceased owner or is in existence on the date of the deceased owner's death and no contingent transfer on death beneficiaries have been designated or have survived the deceased owner, the interest of the deceased owner shall be distributed as part of the probate estate of the deceased owner of the interest. 

(2) A transfer on death deed may contain a designation of one or more persons as contingent transfer on death beneficiaries, who shall take the interest of the deceased owner that would otherwise have passed to the designated transfer on death beneficiary if that named designated transfer on death beneficiary does not survive the deceased owner or is not in existence on the date of death of the deceased owner. Persons designated as contingent transfer on death beneficiaries shall be identified in the deed by name. 

(3) The designation of a transfer on death beneficiary has no effect on the present ownership of real property, and a person designated as a transfer on death beneficiary has no interest in the real property until the death of the owner of the interest. 

(4) The designation in a deed of any transfer on death beneficiary may be revoked or changed at any time, without the consent of that designated transfer on death beneficiary, by the owner of the interest by executing in accordance with Chapter 5301 of the Revised Code and recording a deed conveying the grantor's entire, separate interest in the real property to one or more persons, including the grantor, with or without the designation of another transfer on death beneficiary. 

(5) A fee simple title or any fractional interest in a fee simple title may be subjected to a transfer on death beneficiary designation. 

(6) A designated transfer on death beneficiary takes only the interest that the deceased owner or owners held on the date of death, subject to all encumbrances, reservations, and exceptions. 

(7) No rights of any lien holder, including, but not limited to, any mortgagee, judgment creditor, or mechanic's lien holder, shall be affected by the designation of a transfer on death beneficiary pursuant to this section and section 5302.22 of the Revised Code. If any lien holder takes action to enforce the lien, by foreclosure or otherwise through a court proceeding, it is not necessary to join the transfer on death beneficiary as a party defendant in the action unless the transfer on death beneficiary has another interest in the real property that is currently vested. 

(8) Any transfer on death of real property or of an interest in real property that results from a deed designating a transfer on death beneficiary is not testamentary.

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