The Zombie Property Remediation Act of 2019 was passed by both houses in June, continues to be championed by local legislators, and await the Governor’s signature. A recent article in The Post-Journal discusses the legislation and details the various sides of a contentious debate.
There are many points in the article, however one question that is not really addressed is, what is the extra liability being taken on by the municipality. Banks have the option to “fast-track” the foreclosure if property is abandoned, it seems this legislation would allow municipalities to basically mandate this option be utilized. Now any concerns about a homeowner being “pushed out” could fall on the municipality.
Kudos to New York State for making blight and abandoned properties such a priority.
To view the article please click here.
To view the bill text, please click here.