IN SB0308

Allows local governmental units (counties or municipalities) to file court actions to extinguish mortgage or vendor's liens on abandoned structures that have been abandoned for at least 6 months and present a danger to community health or safety

Requires courts to issue a provisional order extinguishing the lien if the governmental unit proves its case by preponderance of evidence, followed by a mandatory stay period of 90-180 days

Permits lienholders or property owners to have the provisional order rescinded during the stay period by releasing all liens or demonstrating the structure is no longer abandoned and is habitable

Authorizes courts to extend the stay period if repairs are being made in good faith to make the structure habitable

Makes final lien extinguishment orders recordable with the county recorder and bars all future suits and actions on the extinguished mortgage or lien; effective date July 1, 2013