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Non-Disclosure Agreement
Secure your Ohio real estate deals with an NDA compliant with Ohio Rev. Code § 1335.05. Protect MLS data, commission structures, and proprietary property leads.
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As an Ohio real estate agent, your proprietary leads, unlisted property data, and negotiated commission structures are the lifeblood of your business. Without a robust Non-Disclosure Agreement, you... Read more
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[Specific Real Estate Data Protected]
This clause specifies what types of information are considered confidential. It is crucial to clarify what is and what is not included to prevent any disputes.
Details the responsibilities of the party receiving the confidential information, including how they must protect it and any limitations on its use.
Lists exceptions to what is considered confidential, such as information that is already public or was independently developed without using the disclosed information.
Specifies the length of time that the agreement lasts and how long confidentiality is to be maintained. This can include both the term of the agreement and any surviving obligations.
Outlines circumstances where the receiving party is allowed to disclose information, for example, as required by law or to employees who need to know.
Requires the receiving party to return or destroy any confidential materials at the end of the agreement or upon request.
Describes the available legal remedies if the agreement is breached, such as injunctions or damages. This is crucial for enforcement and deterrence.
Specifies which state’s laws will govern the agreement and which courts will have jurisdiction over disputes. This is important for clarity and legal planning.
Affirms that the written document comprises the complete agreement between the parties regarding the confidentiality terms, superseding any prior discussions or agreements.
Ensures that if one part of the contract is found invalid, the rest of the agreement still holds.
As an Ohio real estate agent, your proprietary leads, unlisted property data, and negotiated commission structures are the lifeblood of your business. Without a robust Non-Disclosure Agreement, you risk fiduciary duty breaches and commission disputes if sensitive transaction details are leaked. This document is tailored to Ohio law—specifically addressing the Statute of Frauds under ORC § 1335.05 and the Ohio Consumer Sales Practices Act—ensuring your sensitive property info and earnest money details stay protected during negotiations and escrow.
Ohio Revised Code § 1335.05 (Statute of Frauds) requires that certain contracts, particularly those involving real estate interests or agreements not performable within one year, must be in writing. Our NDA ensures that all confidentiality obligations regarding property transactions are documented in writing to remain legally enforceable in Ohio courts.
Yes. This agreement includes the required 'Definition of Confidential Information' clause, which can be customized to include commission agreements, proprietary marketing strategies, and non-public listing data. Protecting this information helps mitigate risks related to commission disputes and breaches of fiduciary duty.
While the NDA focuses on information security, it provides the legal framework to protect the financial specifics of a 'federally related mortgage loan' as governed by RESPA. By keeping transaction terms confidential, you protect your client's leverage during the contingency period and ensure compliance with Ohio Real Estate Commission professional conduct rules.
Our document includes a mandatory 'Remedies for Breach' clause. In Ohio, this allows you to seek injunctive relief or damages. Given Ohio's 'business judgment rule,' having a signed NDA provides clear evidence of the standard of care expected, making it easier to prove a breach of confidentiality in a jurisdictional court.
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