House Bill 1066 Summary

• Requires purchasers of foreclosed property to record the deed with the county recorder within 60 days of receipt, with liability for civil penalties if they fail to comply.

• Establishes mortgagee responsibilities for surrendered property in bankruptcy: 30 days after a mortgagor surrenders property, the mortgagee must ensure compliance with nuisance, unsafe building, and vacant structure statutes.

• Makes mortgagees personally liable for civil penalties imposed by local legislative bodies for failure to maintain surrendered properties or record required deeds within 60 days.

• Grants mortgagees authority to enter surrendered properties to carry out maintenance and compliance responsibilities.

• Directs civil penalties collected for non-compliance to be deposited in county general funds and appropriated to county treasurers for abandoned property purposes.