Land (Real Estate) in Ohio

The only property I own in Ohio is the house where I live with my family. Do I have to list that?

No. A filer is not required to disclose his or her personal residence. R.C. 102.02(A)(2)(d).

I own a condo in Colorado that my family uses for skiing each winter. I also rent the condo to other vacationers. Do I have to list the condo as real estate?

No. A filer is not required to disclose property located outside the state of Ohio. R.C. 102.02(A)(2)(d).

However, you will have to disclose the renters, or any company to which the rental payments are made, as a source of income to you in response to the income question.

My spouse and I own a house on one of the Lake Erie islands, which we and other family members use for weekend getaways and summer vacations. Do I have to list this property?

No. A filer is not required to disclose any property used primarily for personal recreation. R.C. 102.02(A)(2)(d).

I am a member of an LLC that purchases and holds property for development purposes. Do I have to list the real estate owned by the LLC, even though I personally don’t own it?

Yes. A member of an LLC has a beneficial interest in the property owned by the LLC. For that reason, you are required to disclose the property on your FDS. Advisory Opinion 2006-02.

A filer is also required to disclose property owned by a partnership if the filer is a partner in the partnership. Advisory Opinion 76-012.

I own rental property in Ohio. If I am already listing the tenants as sources of income, do I also have to disclose the property as real estate I own?

Yes. It is sometimes necessary for a filer to disclose the same, or related, information in more than one disclosure category.

If I am required to disclose real property in Ohio, how do I disclose it?

You can disclose the address for the property. If the property does not have an address, you can disclose the legal description for the property (plat number, etc.) and the county in which it is located.