As used in this chapter, the following terms shall have the
meanings indicated:
AGENT
An individual with a place of business in this state in which
he or she is authorized to accept inquiries, notices, and service
of process on behalf of a vacant, abandoned, or foreclosed real property
owner.
COMMERCIAL PROPERTY
A building that is used, or partially used, for commercial
business activities, including, but not limited to, stores, offices,
schools, churches, gymnasiums, libraries, museums, hospitals, clinics,
warehouses, and jails.
CREDITOR
A federal or state-chartered bank, savings bank, savings-and-loan
association, credit union, mortgagee, and any entity acting on behalf
of the creditor named in the debt obligation, including, but not limited
to, servicers.
INDUSTRIAL BUILDING
Property or design for, or used by, companies or persons
for manufacturing, warehousing or assemblage of components.
OWNER
Any person, copartnership, association, corporation, fiduciary
or other legal entity having a legal or equitable title or any interest
in any real property.
VACANT
A residential, commercial, or industrial property with no
legal resident or tenant. Evidence of vacancy includes any condition
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 or dead vegetation;
accumulation of flyers, mail, or trash; disconnected utilities; the
absence of window coverings or furniture; and statements by neighbors,
delivery persons, or government employees.
When any registered property transfers to an unaffiliated third
party, or the foreclosure action is dismissed, and the property is
occupied, or is legally reoccupied and not subject to a foreclosure
action, or the registering creditor releases the lien, a deregistration
is to be completed. Registration forms and instructions will be provided
by the City or its third-party administrator.