Mortgage-in-Default occupied, vacant property registration ordinance in Babylon, NY, amended to semiannual fee

Babylon, NY: An amendment to the mortgage-in-default occupied and vacant property registry ordinance has been approved, to help protect the City from blight effects.
 

Article XLIV: Mortgage-in-Default Registry required that within “10 days of date that the mortgagee declares its mortgage on a particular parcel of real property to be in default, the mortgagee shall inspect and register the real property with the Town's mortgage-in-default registry. The mortgagee shall include in the registration if the property is vacant or occupied.”

The registration ordinance had required an annual $200 fee per property, along with adherence to maintaining the property to City code and securing the home as needed.

The changes passed March 14 amends the ordinance to the following:
“(D) A semi-annual non-refundable registration fee in the amount of $200.00, per property, shall accompany the Mortgage-In-Default Registration form(s). Subsequent semi-annual registrations of defaulted properties and fees in the amount of $200.00 are due within ten (10) days of the expiration of the previous registration.

(F) Properties subject to this section shall remain under the semi-annual mortgage-in-default registration requirement, inspection, security, and maintenance standards of this section as long as they remain in default.”
 

The amendment passed with a 5-0 vote.

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