For the purpose of this article, certain words and phrases used in this article are defined as follows:
ABANDONEDA property that is vacant and is under a current notice of default or notice of a mortgagee's sale or a trustee's sale and is not currently being offered for sale, rent or lease by the owner subject to such actions(s) (Currently being offered for sale, rent or lease is evidenced by a sign posted on the subject property advertising the property for sale, rent or lease with contact information and current phone number and/or an active listing in an electronic database accessible to Village staff.) and/or property that has been the subject of a foreclosure sale where the title was retained by the beneficiary involved in the foreclosure and any property transferred under a deed in lieu of foreclosure, whether or not the property is being marketed for sale, rent or lease.
ACCESSIBLEA property or structure that unauthorized persons may gain access or entry to through a compromised/breached/unsecured gate, door, fence, wall, window or other point of entry.
AGREEMENTAny agreement or written instrument which provides that title to real property shall be transferred or conveyed from one owner to another owner after the sale, trade, transfer or exchange.
BENEFICIARYA lender or other entity under a note secured by a mortgage or a deed of trust.
BUYERAny person, copartnership, association, corporation or fiduciary that agrees to transfer anything of value in consideration for property described in an agreement of sale.
DAYSConsecutive calendar days.
DEED IN LIEU OF FORECLOSUREA recorded document that transfers property from the mortgagor to the mortgagee of a mortgage or the trustor to the holder of a deed of trust upon consent of the beneficiary of the deed of trust.
DEED OF TRUSTAn instrument by which title to real estate is transferred to a third-party trustee as security for a real estate loan.
DEFAULTThe failure to fulfill a contractual obligation, monetary or conditional.
DISTRESSEDA property that is under a current notice of default and/or notice of mortgagee's sale or trustee's sale or there has been a foreclosure by the mortgagee or trustee or has been conveyed to the beneficiary/mortgagee/trustee via a deed in lieu of foreclosure.
EVIDENCE OF OCCUPANCYAny condition visible from the exterior that on its own, or combined with other conditions present, would cause a reasonable person to believe that the property is legally occupied. Such conditions include but are not limited to secured/locked structures; active utility services; the absence of overgrown and/or dead vegetation; the absence of an accumulation of newspapers, circulars, flyers and/or mail; the absence of an accumulation of trash, junk and/or debris; the presence of window coverings such as curtains, blinds and/or shutters; the presence of furnishings and/or personal items consistent with residential habitation; statements by neighbors, passersby, delivery agents or government employees that the property is legally occupied; or actual contact with occupants.
EVIDENCE OF VACANCYAny condition visible from the exterior that on its own or combined with other conditions present would lead a reasonable person to believe that the property is vacant. Such conditions include, but are not limited to, overgrown and/or dead vegetation; accumulation of newspapers, circulars, flyers and/or mail; past-due utility notices and/or disconnected utilities; accumulation of trash, junk and/or debris; the absence of furnishings and/or personal items consistent with residential habitation; and statements by neighbors, passersby, delivery agents or government employees that the property is vacant.
FIELD SERVICE PROVIDERAn individual, entity or department that is responsible for inspecting, securing and maintaining abandoned property.
FORECLOSUREThe process by which a property, placed as security for a real estate loan, is sold at auction to satisfy the debt if the mortgagor or trustor (borrower) defaults.
INSPECTIONA physical investigation at a property to obtain evidence of occupancy or vacancy and/or to verify compliance with this article and any other applicable code or law. Although interior inspections may be allowed under a mortgage or deed of trust, they are not required by this article.
MORTGAGEAn instrument by which an interest in real estate is transferred to a lender as security for a real estate loan.
MORTGAGEEA person, firm or entity holding a mortgage secured by an interest in the real estate.
MORTGAGORA person, firm or entity that gives a mortgage to a lender/mortgagee to secure a loan.
NEIGHBORHOOD STANDARDThose conditions that are present on a simple majority of properties within a 300-foot radius of the subject property. A property that is the subject of a neighborhood standard comparison, or any other abandoned property within the 300-foot radius, shall not be counted toward the simple majority.
NOTICE OF DEFAULTA recorded notice that a default has occurred under a mortgage or a deed of trust and that the beneficiary intends to proceed with a foreclosure sale.
OWNERAny person, copartnership, association, corporation or fiduciary having a legal or equitable title or any interest in any real property.
PROPERTYAny unimproved or improved real property, or portion thereof, situated in the Village; and includes the buildings or structures located on the property, regardless of condition.
RESPONSIBLE PARTYThe beneficiary that is pursuing foreclosure of a property subject to this article secured by a mortgage, deed of trust or similar instrument or a property that has been acquired by the beneficial interest at a foreclosure sale.
SECURINGSuch measures as may be directed by the Village or its designee so that the property is not accessible to unauthorized persons, including but not limited to the repairing of fences and walls, chaining/padlocking of gates, the repair or boarding of door, window and/or other openings. Boarding shall be completed to a minimum of the current HUD securing standards at the time the boarding is completed or required. Locking includes measures that require a key, keycard, tool or special knowledge to open or gain access.
TRUSTEEThe person, firm, entity or corporation holding a deed of trust secured by the property.
TRUSTORA borrower under a deed of trust, who deeds property to a trustee as security for the payment of a debt.
VACANTA building/structure that is not legally occupied.