If you have recently created a new entity (LLC, corporation, or partnership) with a name that included words like “real estate,” “realty,” “property,” or “management,” you may soon be receiving a letter from the State of Ohio.
The State of Ohio Division of Licensing has recently resurrected a policy whereby they audit entities that were recently formed with the Ohio Secretary of State to look for these keywords in the name and then send that entity a letter outlining real estate licensing requirements. The State believes that these “keywords” in an entity name may mean that the entity is engaged in practices that may require professional real estate licensing (i.e. acting as a real estate broker or agent).
If you receive a letter like this, you are not required to respond. The Division of Licensing is merely providing information to business owners about real estate licensing requirements. Notwithstanding, if you have any questions about licensing requirements or think that you may be involved in business activities that require licensing, please contact a Critchfield attorney to discuss in more detail.