The city of El Paso, Ill. has enacted a property registration requirement within 20 days of foreclosure filing. The program will be enforced by a third-party service provider (ProChamps) and will include a $325.00 semi-annual registration fee.
Property Registration Ordinance
Chapter 230. REGISTRATION OF FORECLOSING MORTGAGED PROPERTY AND VACANT FORECLOSURE PROPERTY
Sec. 230-5 -- INSPECTION AND REGISTRATION OF REAL PROPERTY UNDER FORECLOSURE
(c) Within twenty (20) days of the date any Mortgagee files a Foreclosure Action, the Mortgagee shall register the Real Property with the City Registry, and, at the time of registration, indicate whether the property is Vacant, and if so shall designate in writing a Property Manager to inspect, maintain, and secure the Real Property subject to the mortgage under a Foreclosure Action when legally possible.
(e) At the time of initial registration each registrant shall pay a non-refundable Semi-Annual Registration fee of three hundred twenty-five dollars ($325.00) for each property. Subsequent non-refundable Semi-Annual renewal registration of properties and fee in the amount of three hundred twenty-five dollars ($325.00) are due within ten (10) days of the expiration of the previous registration.
Long Beach, California
The city of Long Beach, Calif. has amended its property registration requirement. Properties are still required to be registered with the city within 10 days of notice of default. The annual registration fee has increased from $180.00 to $195.00.
Property Registration Ordinance
Chapter 18.24 - Foreclosure Registry Program
18.24.030 Registration.
A. Not later than ten (10) days after recording a notice of default on any residential property located in the City of Long Beach which is subject to a deed of trust, the beneficiary, or its trustee, shall register the property with the Development Services Department of the City of Long Beach on forms property by the City.
C. An annual registration fee as set by the City Council by resolution shall accompany the submission of each registration form. The fee and registration shall be valid for one (1) year from date of registration. Registration fees will not be prorated. Subsequent registrations and fees are due January 1st of each year and must be received no later than January 15th of the year due.
Foreclosure Registry Program Registration Form
Annual fee of $195.00
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Holland Township, N.J., has enacted property registration requirements within 30 days of vacancy. The program requires the owner of the vacant property to acquire and maintain liability insurance by procuring a vacancy policy.
Chapter 124 - PROPERTIES, VACANT OR ABANDONED
Sec. 124-3. Requirements for owners of vacant property.
The owner of any building that has become vacant property, and any person maintaining, operating or collecting rent for any such building that has become vacant shall, within 30 days:
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G. The owner of any vacant building shall acquire and otherwise maintain liability insurance by procuring a vacancy policy in an amount of not less than $300,000 for buildings designed primarily for use as residential units and not less than $1,000,000 for any other building, including, but not limited to, buildings designed for manufacturing, industrial, storage or commercial uses, covering any damage to any person or any property caused by any physical condition of or in the building.
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