11B - ORDINANCE FOR VACANT PROP - Laserfiche WebLink

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"Secure" means such measures as may be directed by an enforcement official that assist in rendering real property inaccessible to unauthorized persons, including but not limited to repairing fences and walls, chaining/pad locking gates, the repairing or boarding of doors, windows or other openings. Such measures shall be implemented in conformance with all applicable standards of the United States Department of Housing and Urban Development. "Tax assessor's lien sale" means the sale, conducted by the Assessor of Orange County, of tax liens for delinquent taxes on the property. "Trustee" means any person, partnership, association, corporation, fiduciary or other legal entity holding a deed of trust securing an interest in real property for the benefit of the beneficiary. "Trustor" means any owner/borrower identified in a deed of trust, who transfers an interest in real property to a trustee as security for payment of a debt by that owner/borrower. "Vacancy/vacant" means any building, structure or real property that is unoccupied or occupied by a person without a legal right of occupancy. "Vacant building" means a building where at least thirty-five (35%) percent of the total floor area within the building is not occupied. "Vacant shopping center/industrial complex" means a shopping center or industrial complex on a single property containing one or more buildings where fifty (50%) percent of the gross leasable area is not occupied. Sec. 8-1984. - Duty to record instrument for property transfer. In order to ensure proper noticing regarding registration of abandoned, defaulted and/or vacant properties pursuant to this Article, within ten (10) days of a property transaction involving a change in the identity of an owner or the owner of record, or alternatively a transfer/assignment of a loan or deed of trust secured by such residential, industrial or commercial property, each beneficiary and trustee engaged in said transaction or transfer/assignment shall record, with the Orange County Recorder's Office, an instrument evidencing such transaction, transfer or assignment. This instrument shall reflect the identity, mailing address and telephone number of the trustee and beneficiary responsible for receiving payments associated with the loan or deed of trust in question. This duty/obligation shall be joint and several among and between all trustees and beneficiaries and their respective agents. Sec. 8-1985. - Registration. A. Each beneficiary and trustee, who holds a deed of trust on a property located within the city, shall perform an inspection of the property that is security for the Ordinance No. NS-XXXX Page 6 of 16 11 B-6