Court distinguishes oil and gas land professionals from real estate agents/brokers
Wednesday, December 26, 2018
by Matt Warnock
On December 19, S.B. 263 was signed into law by Governor Kasich, establishing the concept of an “oil and gas professional.” This distinction is important because it separates those involved in the purchase and sale of oil and gas land from the licensure requirements imposed on real estate agents and brokers. Despite this exemption, oil and gas land professionals are still required to fulfill newly-established registration requirements, including an annual fee and membership within a national oil and gas land professional group. This topic has been a source of debate within the court system, so the new law is a welcome resolve within Ohio’s oil and gas industry.