§ 13-12-127

Mortgagee to inspect real estate


For purposes of this section the terms “default”, “mortgage”, “mortgagee”, “mortgagor”, and “vacantshall be defined as provided in Section 13-12-126(e).


Beginning 45 days after a default, a mortgagee shall determine, on a monthly basis, if the building on the real estate subject to its mortgage is vacant.  Such determination may be made by communication with the mortgagor, a visual inspection of the real estate, or other means reasonably calculated to determine if the building is vacant.


This section shall not require a mortgagee to perform any action which it is barred from doing by an automatic stay pursuant to a bankruptcy proceeding.


To the extent permitted by law, a mortgagee’s acts or omissions required by this section shall not subject the mortgagee to civil or criminal liability unless the act or omission constitutes gross negligence or willful, wanton, or intentional misconduct.

(Added Coun. J. 11-2-11, p. 11801, § 2)



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