(A) Prior to filing a complaint of foreclosure or executing a deed in lieu of foreclosure on property located in Kenton County, a petitioning creditor or owner shall inspect the property to determine whether the property is vacant or abandoned. If the property is vacant or abandoned, the petitioning creditor or owner shall, within ten days of filing the complaint for foreclosure or the deed in lieu of foreclosure is executed, register the property as a vacant property with Planning and Development Services of Kenton County for the purpose of minimizing hazards to persons and property values as a result of the vacancy.
(B) If a property is occupied, but remains in default and subject to an action for foreclosure, the property shall be inspected by the petitioning creditor, owner, or its designee, no less than once every 30 days until:
(1) The foreclosure action is dismissed;
(2) The property is transferred to an unaffiliated third party via Master Commissioner's deed; or
(3) The property is otherwise transferred to an unaffiliated third party.
(C) Within 90 days of this chapter becoming effective, the petitioning creditor or owner of any complaint of foreclosure shall inspect any property which is the subject of the legal action to determine whether the property is vacant or abandoned. If the property is vacant or abandoned, the petitioning creditor or owner shall, within ten business days after inspecting the property, register the property as a vacant property with Planning and Development Services of Kenton County for the purpose of minimizing hazards to persons and property values as a result of the vacancy.
(D) If a property becomes vacant at any time after a creditor files a complaint of foreclosure or executes a deed in lieu of foreclosure, but prior to vesting of title in the creditor or a third party, the creditor shall, within ten business days after obtaining knowledge of the vacancy, register the property as a vacant property with Planning and Development Services of Kenton County.
(E) The petitioning creditor or owner of vacant property shall pay an initial registration fee of $150 renewable annually thereafter until such time that the foreclosure action is dismissed, the property transferred to an unaffiliated third party via Master Commissioner's deed, the property is legally reoccupied, or the property is otherwise transferred to an unaffiliated third party.
(Ord. 950.87, passed 11-9-16)