§ 4-12.603. Registration.

Any beneficiary/trustee, who holds a deed of trust on a property located within the City of Modesto, shall perform an inspection of the property that is the security for the deed of trust, upon default by the trustor, prior to recording a notice of default with the Stanislaus County Recorder's Office. If the property is found to be vacant or shows evidence of vacancy, it is, by this chapter, deemed abandoned and the beneficiary/trustee shall, within ten (10) days of the inspection, register the property with the City Manager, or his/her designee, on forms provided by the City.

(a)

If the property is occupied but remains in default it shall be inspected by the beneficiary/trustee, or an agent/designee of the beneficiary/trustee, monthly until (1) the trustor or another party remedies the default; or (2) the foreclosure is completed and ownership is transferred to a new owner who is not the former beneficiary or trustee; or (3) it is found to be vacant or shows evidence of vacancy at which time it is deemed abandoned, and the beneficiary/trustee shall, within ten (10) days of that inspection, register the property with the City Manager, or his/her designee, on forms provided by the City.

(b)

The beneficiary/trustee shall also register any property which becomes vacant after a foreclosure sale where the title was transferred to the beneficiary of a deed of trust involved in the foreclosure and any property which becomes vacant after being transferred under a deed in lieu of foreclosure/sale.

(c)

Such registration shall contain the following information for both the beneficiary and the trustee: name (corporation or individual); the street/office address (not a P.O. box) and if different, the mailing address; a direct contact name and phone number for the person handling the deed of trust and/or foreclosure; and, in the case of a corporation or out-of-area beneficiary or trustee, the local property manager responsible for the security and maintenance of the property.

(d)

The annual registration fee established by City Council resolution, shall accompany the registration form. 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. Subsequent registrations and fees are due January 1st of each year and must be received no later than January 31st of the year due.

(e)

Persons required to register properties pursuant to this chapter shall keep such properties registered and all required information updated and comply with all the security and maintenance requirements of this chapter for the entire time such properties remain vacant. When such properties become occupied or title is transferred, the beneficiary/trustee or prior responsible person shall notify the City Manager, or his/her designee, in writing.

(f)

Any person, firm or corporation required to register a property pursuant to this chapter must report any change of information contained in the registration within ten (10) days of the change.

(Amended by Ord. 3514-C.S., § 1, effective 6-12-09)