Update

An unnumbered bill, SD 840 on the dockets was filed on 1/9/2009 by Sen Anthony Petruccelli and titled :  An Act Regulating the Maintenance of Vacant and Foreclosing Residential Properties. This proposed legislation requires vacant residential properties owners and/or foreclosing lenders to register the property with the town/city “Commissioner.” 

Registrations are valid for one calendar year and have a fee of $100.

• • If the residential property is vacant, regardless of the foreclosure status, all owners must identify a local individual or hire a local property management company responsible for monthly maintenance.
  • Failure to initially register results in a fine of $300.
  • Failure to hire a property management company or identify a local individual to maintain vacant residential properties will result in a $300 fine.
  • Failure to maintain the property results in fine of $300/week. 
• Mortgagee includes the servicer and any agent, servant or employee of the mortgagee, and any successor in interest or assignee of the mortgage
• Owner includes any person who has legal or equitable title; has charge or control of any dwelling, unit or land, vacant or otherwise; and a mortgagee-in-possession
• Vacant means any property not currently legally occupied and not properly maintained or secured

 About Safeguard
Safeguard Properties is the largest privately held field services company in the country. Located in Cleveland, Ohio and founded in 1990 by Robert Klein, Safeguard has grown from a regional preservation company with a few employees and a handful of contractors performing services in the Midwest, to a national company with over 500 employees. Safeguard is supported by a nationwide network of subcontractors able to perform any requested superintendence, preservation, and maintenance functions, as well as numerous ancillary services in the U.S., the Virgin Islands, and Puerto Rico.