[Added 11-14-2022 by Ord. No. 12.22]
A. Pursuing any action in foreclosure due to properties being vacant
and abandoned shall comply with the Fair Foreclosure Act, N.J.S.A.
2A:50-56.
B. A creditor filing a summons and complaint in foreclosure shall comply
with N.J.S.A. 40:48-2-12s3, which states, in pertinent part:
(1)
The creditor must provide notice to the Borough pursuant to
N.J.S.A. 40:48-2.12s2; and
(2)
Register the commercial or residential property with the Borough's
Property Registration Program as a property in foreclosure and, as
part of the registration, provide:
(a)
The creditor's information pursuant to N.J.S.A. 46:10B-51 and
N.J.S.A. 40:48-2.12s2; and
(b)
Identify the date the summons and complaint in an action to
foreclose on a mortgage was filed, the court in which it was filed,
and the docket number of the filing; and
(c)
Identify whether the property is vacant or abandoned in accordance
with the definitions within this Code.
(3)
If there is any change in the name, address, or telephone number
for a representative, agent, or individual authorized to accept service
on behalf of a creditor required to register pursuant to the property
registration program following the filing of the summons and complaint,
the creditor shall update the property registration program within
10 days of the change in that information;
(4)
A creditor filing a summons and complaint in an action to foreclose shall, if the registered property becomes vacant and abandoned in accordance with the definition in this Chapter
54, Article
VI, of this Code, after the property is initially registered with the municipality, update the property registration with the municipality to reflect the change in the property's status;
(5)
The creditor filing a summons and complaint in an action to
foreclose shall be responsible for the care, maintenance, security,
and upkeep of the exterior of the property if the property is vacant
and abandoned at any time while the property is registered with the
property registration program;
(6)
A creditor located out of state shall be responsible for appointing
an in-state representative or agent to act for the foreclosing creditor;
(7)
The creditor or representative shall be responsible for any care or upkeep pursuant to Chapter
54, Property Maintenance, of this Code, including, but not limited to, any requirements to secure the property against unauthorized entry, post a sign affixed to the inside of the property and visible to the public indicating the name, address, and telephone number of the creditor or an out-of-state creditor's in-state representative or agent for the purpose of receiving service of process, or acquire and otherwise maintain liability insurance by procuring a vacancy policy, covering any damage to any person or any property caused by any physical condition of the property while registered with the property registration program.
[Added 11-14-2022 by Ord.
No. 12.22]
The Borough may impose an annual fee on a creditor required
to register a property pursuant to this ordinance and pursuant to
law.
A. The fee to register shall be $400 per property annually for any property
that is required to be registered as an abandoned or vacant property.
This includes any property subject to a summons and complaint if an
action to foreclose was filed by the creditor; and
B. An additional $2,000 per property annually if the property is vacant
or abandoned pursuant to the definition in the ordinance when the
summons and complaint in an action to foreclose is filed, or becomes
vacant and abandoned pursuant to the definition in this ordinance
at any time thereafter while the property is in foreclosure.
C. Amounts collected by the third-party entity on behalf of the local
unit shall be paid over in full to the local unit without any amount
deducted as payment for services rendered by the third-party entity.
Once the collected fees are paid over to the local unit, the officer
charged with the custody of the general funds shall deposit all such
funds within 48 hours after the receipt thereof to the credit of the
municipality in its designated legal depository.
D. Interest and penalties. A third-party entity shall collect and pay
over to the municipality any interest and penalties, based upon the
rate of interest and penalties fixed by the governing body of the
municipality for late payment of property taxes, assessments, and
other municipal charges pursuant to N.J.S.A. 54:4-67, for late payment
of the property registration fees imposed pursuant to P.L. 2021, Chapter
444.