HB 3058

Abstract

Creates the Abandoned Residential Property Act. Imposes requirements on first lien mortgage holders concerning the inspecting, securing, and maintaining of abandoned residential property. Provides exceptions. Provides that the Department of Financial and Professional Regulation shall maintain a statewide abandoned property registry electronic database. Provides that the Department shall establish and maintain a toll-free hotline that neighbors of residential property that is, or appears to be, abandoned may use to report hazards, blights, or other concerns related to the property. Provides that violations of the provisions may be heard before a hearing officer or a court of competent jurisdiction and that the violations may be enforced by the Secretary of the Department or the municipality where the residential property is located. Provides that if the mortgagee violates the provisions, a civil penalty may be issued in the amount of up to $500 per day per property for each day the violation persisted. Provides rulemaking powers to the Division of Banking of the Department to implement the provisions. Limits home rule powers. Makes conforming changes.