Number
100375
Version
SUBSTITUTE 2
Reference
Sponsor
ALD. MURPHY, BAUMAN, WADE, AND COGGS
Title
A substitute ordinance relating to the registration and maintenance of properties involved in foreclosure actions.
Sections
200-22.5-0 am
200-22.5-1 rc
200-22.5-1.5 cr
200-22.5-2.5 cr
200-22.5-4 rc
200-22.5-4.5 cr
200-22.5-5-a-0 am
200-22.5-5-e rc
200-33-47 am
Analysis
This ordinance amends current registration requirements for abandoned properties pending foreclosure to require registration of all residential properties upon filing with the court of the foreclosure proceedings against residential properties. The registration is dissolved and the responsibilities of the registrant under this section cease upon receipt by the commissioner of neighborhood services of written evidence of a sale in foreclosure, redemption of the property by the lien holder, other transfer of the lien holder's interest or release of the lien holder’s interest in the property through vacating the lis pendens. This ordinance also requires that a registrant, registrant's agent or servicing company post a sign on or adjacent to all entrances to the building identifying the registrant, and if applicable, the person responsible for the purpose of service of process, contact information, and prohibiting trespassing upon the property. The fee for registering a residential property in foreclosure is increased from $35 to $250, and the fee for failure to register within 5 days of initiation of foreclosure proceedings increases from $10 to $25.
...Body
The Mayor and Common Council of the City of Milwaukee do ordain as follows:
Part 1. Section 200-22.5-0 of the code is amended to read:
200-22.5. [[Maintenance of Abandoned]] >>Registration of<< Residential Properties Pending Foreclosure.
Part 2. Section 200-22.5-1 of the code is repealed and recreated to read:
1. FINDINGS. The common council finds that a significant relationship exists between properties in the foreclo...
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