(a) If, upon inspection of residential property required by § 24-110, it should be determined that the property is abandoned, the bank, lender, other financial institution or its responsible agent or servicing company shall register the property in the name of the lien holder with the appropriate City official (“appropriate official”) on a form prescribed by the appropriate official that includes, but is not limited to, information identifying the location of the property, the last known owner or owners of the property, the date foreclosure proceedings were commenced and the docket number of the foreclosure action, a description of the external condition of the property and whether there is an accessible structure on the property. Registration information shall identify the agent or servicing company, if any, that is authorized by the lien holder to enter upon the property and to conduct repairs or maintenance as required in § 24-112(a).
(b) Registration of abandoned property shall be made within five (5) working days of inspection. The fee for registration of abandoned residential property shall be the same fee charged for rental registration.
(c) The registration will be dissolved and considered void upon receipt by the appropriate official of written evidence of a sale in foreclosure, redemption of the property by the lien holder or other transfer of the lien holder’s interest.
(Ord. 3756, passed 7-13-2009)