The Borough of Folsom, N.J., has enacted property registration requirements within 10 days of foreclosure filing. In addition, the program will be enforced through a third-party service provider (ProChamps) and will include a $200 annual fee.
SECTION 151-11-A PURPOSE AND INTENT
It is the purpose and intent of the Municipality to establish a process to address the deterioration and blight of Municipality neighborhoods caused by an increasing amount of abandoned, foreclosed or distressed real property located within the Municipality, and to identify, regulate, limit and reduce the number of abandoned properties located within the Municipality. It is the Municipality's further intent to participate in the County-wide registration program established by the Atlantic County Improvement Authority and administered by Community Champions Corporation as a mechanism to protect neighborhoods from becoming blighted due to the lack of adequate maintenance and security of abandoned and foreclosed properties.
Smithtown, NY
The Town of Smithtown, N.Y., has enacted property registration requirements within 10 days of vacancy. In addition, the program will be enforced through a third-party service provider (ProChamps) and will include a semi-annual fee of $500.
Municipal Vacant and Abandoned Residential Property Guidelines
What is a Vacant and Abandoned Residential Property?
When a real estate title that has stayed with the owner of a residential property after the mortgage lender has begun a foreclosure process but then cancels the foreclosure process. The lender is not required to notify the owner of the cancellation, which often leads to the unawareness of all obligations associated with the continued ownership (i.e. local taxes or upkeep of the property) Reporting Vacant and Abandoned Residential Property or Zombie Homes: In ordinance of the New York Real Property Action and Proceedings Law all Mortgagees and/or servicers are responsible for registering vacant and abandoned properties. By State Law they are required to submit a report (quarterly) of all compliance efforts once the property has been registered.
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The Village of Mechanicsburg, Ohio, has enacted property registration requirements within 90 days of vacancy or 30 days of municipal notice.
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