Ohio § 5315.05 Parties to lease with option to purchase agreement

Ohio Statutes

§ 5315.05 — Parties to lease with option to purchase agreement

Ohio § 5315.05

Title 53Real Property

Ch. 5315D.o.l.l.a.r. Deed Program

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Bluebook

Ohio Rev. Code Ann. § 5315.05 (2026).

Text

(A)A former borrower and a former lender who are party to a lease with option to purchase agreement under divisions (A)(2) and (3) of section5315.04of the Revised Code are governed by Chapter 5321. of the Revised Code.

(1)The former borrower-lessee is responsible for all of the obligations of a tenant under section5321.05of the Revised Code as well as the duties under divisions (A)(1) to (6) of section5321.04of the Revised Code.

(2)Divisions (A)(1) to (6) of section5321.04of the Revised Code do not apply to a lender-lessor participating in the D.O.L.L.A.R. deed program in accordance with this chapter.

(B)A former borrower-lessee who defaults or otherwise fails to meet the terms of a lease with option to purchase agreement executed pursuant to this chapter forfeits the former borrowe

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(A) A former borrower and a former lender who are party to a lease with option to purchase agreement under divisions (A)(2) and (3) of section5315.04of the Revised Code are governed by Chapter 5321. of the Revised Code.

(1) The former borrower-lessee is responsible for all of the obligations of a tenant under section5321.05of the Revised Code as well as the duties under divisions (A)(1) to (6) of section5321.04of the Revised Code.

(2) Divisions (A)(1) to (6) of section5321.04of the Revised Code do not apply to a lender-lessor participating in the D.O.L.L.A.R. deed program in accordance with this chapter.

(B) A former borrower-lessee who defaults or otherwise fails to meet the terms of a lease with option to purchase agreement executed pursuant to this chapter forfeits the former borrower-lessee's right to purchase the real property under division (B) of section5315.04of the Revised Code and has no further right of possession or occupancy and shall be subject to a forcible entry and detainer action under section5321.03and Chapter 1923. of the Revised Code.