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Ohio Administrative Code (Last Updated: January 12, 2021) |
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4733 State Board of Registration for Professional Engineers and Surveyors |
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Chapter4733-38. Standards For Mortgage Location Surveys |
4733-38-01. Preamble
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These standards are intended to be the minimum requirements for mortgage location surveys in the state of Ohio.
A "mortgage location survey" shall be defined as an instrumentality, common to the mortgage lending industry, whereby substantial proof is submitted to the mortgage lender and/or title insuror that the building(s) and/or other improvements are actually located on the land covered by the legal description in the mortgage and that said mortgage location survey is a professional service provided by professional surveyors solely for the intent of and use by the mortgagee and/or title insuror. The mortgage location survey does not constitute an improvement to the property, and is only a professional opinion which these parties may use as a guide to arrive at any decisions they may wish to make concerning said real property.