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"Registrable Property" means any real property located in the City, whether vacant or <br />occupied, that is encumbered by a mortgage in default, is subject to an ongoing foreclosure <br />action by the Mortgagee or Trustee, is subject to an application for a tax deed or pending tax <br />assessor's lien sale, or has been the subject of a foreclosure sale where the title was <br />transferred to the beneficiary of a mortgage involved in the foreclosure and any properties <br />transferred under a deed in lieu of foreclosure/sale. <br />The designation of a "default/foreclosure" property as "registrable" shall remain in place until <br />such time as the property is sold to a non -related bona fide purchaser in an arm's length <br />transaction or the foreclosure action has been dismissed and any default on the mortgage <br />has been cured. <br />"Residential Building" means any improved real property, or portion thereof, designed or <br />permitted to be used for dwelling purposes, including buildings and structures located on <br />such improved real property. This includes any real property being offered under any <br />circumstances for sale, trade, transfer, or exchange as "residential," whether or not said <br />property is legally permitted and zoned for such use. <br />"Secure" means such measures as may be directed by an enforcement official that assist in <br />rendering real property inaccessible to unauthorized persons, including but not limited to <br />repairing fences and walls, chaining/pad locking gates, the repairing or boarding of doors, <br />windows or other openings. Such measures shall be implemented in conformance with all <br />applicable standards of the United States Department of Housing and Urban Development. <br />"Tax assessor's lien sale" means the sale, conducted by the Assessor of Orange County, of <br />tax liens for delinquent taxes on the property. <br />"Trustee" means any person, partnership, association, corporation, fiduciary or other legal <br />entity holding a deed of trust securing an interest in real property for the benefit of the <br />beneficiary. <br />"Trustor" means any owner/borrower identified in a deed of trust, who transfers an interest in <br />real property to a trustee as security for payment of a debt by that owner/borrower. <br />"VacancyNacant" means any building, structure or real property that is unoccupied or <br />occupied by a person without a legal right of occupancy. <br />8-1984. Duty to record instrument for property transfer. <br />Within 10 days of a property transaction involving a change in the identity of an owner or the <br />owner of record, or alternatively a transfer/assignment of a loan or deed of trust secured by <br />residential or commercial property, each beneficiary and trustee engaged in said transaction or <br />transfer/assignment shall record, with the Orange County Recorders Office, an instrument <br />evidencing such transaction, transfer or assignment. This instrument shall reflect the identity, <br />mailing address and telephone number of the trustee and beneficiary responsible for receiving <br />Ordinance No. NS-XXXX <br />Page 5 <br />11 B-7 <br />