(Amended by Ord. No. 187,627, Eff. 10/24/22.)
A. Properties Subject to Registration Requirements.
1. Any beneficiary or trustee who holds or has an interest in a deed of trust on a property in foreclosure located within the City of Los Angeles ("City") shall register the property in foreclosure with the Los Angeles Housing Department ("LAHD") within 30 days of the issuance of a notice of default.
2. The registration requirements of this article also apply to properties that have been the subject of a foreclosure sale where the title was transferred to the beneficiary or the trustee of a deed of trust involved in the foreclosure or transferred under a deed in lieu of foreclosure and/or sale.
Registration shall be renewed annually until the property is no longer subject to this article.
B. Registration Methods. Registration in satisfaction of this article shall be with LAHD pursuant to the rules, regulations and methodology it promulgates to carry out the provisions of this article. Registration shall only be deemed complete once the information and registration fees required under this article have been received by LAHD.
C. Required Registration Information.
1. Registrants under this article shall provide LAHD with contact information, including name, street address, direct telephone number, and actively monitored email address for the beneficiary and/or trustee. Post office boxes do not constitute an acceptable address.
2. The beneficiary and/or trustee must be empowered to promptly: (1) comply with code enforcement orders issued by the City and other enforcement entities; (2) provide a trespass authorization upon request of local law enforcement authorities; (3) conduct inspections of the property in foreclosure; and (4) accept rental payments from tenants of the property if no management company is otherwise employed for such purpose.
3. If the beneficiary and/or trustee is located out of area, registrants under this article shall also provide the contact information, including name, street address, direct telephone number, and actively monitored email address for the staff of the local property management or property preservation company responsible for the security, maintenance, inspection and marketing of the property.
4. The registration required by this section shall also include, as applicable, the contact information, including the name, street address, direct contact name and telephone number, and actively monitored email address of any servicer or agent responsible for the property or for receiving payments associated with the loan and/or deed of trust. Post office boxes do not constitute an acceptable address.
D. Change of Property Status and/or Information; De-Registering.
1. Any entity, firm or corporation that has registered a property under this article must report any change of status or information contained in the registration to LAHD within 10 calendar days of the change. This includes, but is not limited to, a change in the property servicer or management, change in occupancy status and bank owned status, or any change affecting the ownership or condition of the property.
2. The beneficiary and/or trustee are required to request de-registration of the property within 10 calendar days after the property is no longer subject to the registry, as a result of the notice of default being cancelled or the property being sold to an unrelated third party. All requests for de-registration shall be submitted to LAHD along with copies of documentation recorded with the Los Angeles County Recorder's Office establishing that the property is no longer subject to the registry.
3. It is the obligation of the beneficiary and/or trustee to inform the City, and upon request, provide LAHD with documentation establishing the existence of any pending action, such as bankruptcy or other court or administrative action, or governmental action, such as the declaration of a disaster area, that would prohibit the beneficiary and/or trustee from taking any of the actions required in this article. The beneficiary and/or trustee shall provide LAHD with the requested documentation within the timeframe specified by LAHD.
4. If a property is found to be vacant and has already been registered as occupied, the beneficiary and/or trustee shall change the status of the property to vacant on the City's registration.
5. All vacant properties subject to this article shall be secured against unauthorized entry and shall have recorded against the property with the Los Angeles County Recorder's Office a declaration stating that the property is and shall remain vacant.
E. Annual Registration Fee.
1. A non-refundable annual registration fee in the amount of $155 shall be paid to LAHD at the time of registration.
2. The fee and registration shall be valid for the calendar year, or remaining portion of the calendar year, in which the registration was initially required. Registration fees will not be prorated.
3. Subsequent annual registrations and fees are due January 1st of each year and must be received no later than January 31st of the year due.
4. Registration fees collected by LAHD pursuant to this article shall be deposited into the Foreclosure Registry Program Fund established by Article 28 of Chapter 5 of Division 5 of the Los Angeles Administrative Code.
5. The City Council may adjust the amount of the annual registration fee. Such adjustments must be supported by a fee study.