§ 2-9-35. Registration of real property in foreclosure.

(a)

Within ten (10) days of filing a lis pendens or an action to foreclose upon a mortgage or similar instrument that secures debt upon real property, the mortgagee or its designee shall register the subject real property with the county. If a lis pendens has been filed or an action to foreclose upon a mortgage or similar instrument that secures debt upon real property has been instituted prior to the effective date of this section, the mortgagee or its designee shall register the subject real property with the county within sixty (60) days of the effective date of this section, if not yet registered.

(b)

Registration requires the mortgagee to certify that the real property subject to registration has been inspected within the preceding thirty (30) days and state whether the property was found to be vacant. The mortgagee must also designate and retain a local property management company to be responsible for inspecting, maintaining and securing the real property in foreclosure in accordance with this article.

(c)

Registration pursuant to this section shall contain, at a minimum, the names, mailing addresses, e-mail addresses, and telephone numbers of the owners, the occupants (if any, and if known), mortgagee, and a local property management company designated as required by this section. The mortgagee shall be responsible for ensuring that the local property management company inspects, maintains, and secures the real property in foreclosure subject to the mortgage in compliance with the requirements of this article. The local property management company designated in the registration shall be available to be contacted by the county between 8:00 a.m. and 5:00 p.m. Monday through Friday, excluding holidays.

(d)

The mortgagee shall pay a regulatory fee for each parcel of real property in foreclosure at the time of registration.

(e)

Any mortgagee that registers real property in foreclosure as provided in this section shall report any change of information contained in the registration to the county within ten (10) days of the change.

(f)

The requirement to register real property in foreclosure set forth in this article shall remain in effect until the foreclosure is concluded and the real property is sold to a bona fide purchaser. Once the real property is no longer in foreclosure or is sold to a bona fide purchaser, the mortgagee shall provide proof of sale or written notice of termination of the foreclosure or lis pendens proceedings to the county.

(g)

Failure of the mortgagee to inspect or register any real property in foreclosure or to provide any required information or change of information shall constitute a violation of this section.

(Ord. No. 14-41, § 28, 10-7-14; Ord. No. 18-43 , § 5, 10-23-18)

Editor's note

Ord. No. 18-43 , § 5, adopted October 23, 2018, amended the title of § 2-9-35 to read as herein set out. The former § 2-9-35 pertained to registration of vacant real property in foreclosure.