Ohio Code 4549.41 – Odometer rollback and disclosure act definitions
As used in sections 4549.41 to 4549.51 of the Revised Code:
Terms Used In Ohio Code 4549.41
- Bequest: Property gifted by will.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Intestate: Dying without leaving a will.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
(A) “Person” includes an individual, corporation, government, governmental subdivision or agency, business trust, estate, trust, partnership, association, or cooperative or any other legal entity, whether acting individually or by their agents, officers, employees, or representatives.
(B) “Motor vehicle” means any vehicle driven or drawn by mechanical power for use on the public streets, roads, or highways.
(C) “Odometer” means an instrument for measuring and recording the total distance that a motor vehicle travels while in operation, including any cable, line, or other part necessary to make the instrument function properly. Odometer does not include any auxiliary odometer designed to be reset by the operator of a motor vehicle for the purpose of recording mileage on trips.
(D) “Transfer” means to change ownership of a motor vehicle by purchase, by gift, or, except as otherwise provided in this division, by any other means. A “transfer” does not include a change of ownership as a result of a bequest, under the laws of intestate succession, as a result of a surviving spouse’s actions pursuant to section 2106.18 or 4505.10 of the Revised Code, as a result of the operation of section 2131.12 or 2131.13 of the Revised Code, or in connection with the creation of a security interest.
(E) “Transferor” means the person involved in a transfer, who transfers ownership of a motor vehicle.
(F) “Transferee” means the person involved in a transfer, to whom the ownership of a motor vehicle is transferred.
(G) “Service” means to repair or replace an odometer that is not properly functioning.