Insights
Al Marks, Christina Parlapiano and Jennifer Neuner wrote an article, "How NY Is Fighting Back Against 'Zombie' Properties," for Law360. The article is about the new legislation called The Abandoned Property Neighborhood Relief Act that the state of New York recently enacted to ease neighborhood blight. The law imposes new duties on mortgagees and their servicing agents to identify and maintain abandoned properties under delinquent mortgages. The legislation also will establish a statewide database of abandoned properties to be maintained by the New York Department of Financial Services.
