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New ordinances are sweeping through local governments that are targeting Bank Owned properties. The city of Livonia Michigan adopted ordinance #2844 on October 8, 2009, the Township of Canton Michigan adopted a similar ordinance #79 on January 12, 2010, while Plymouth Township adopted Ordinance C-2009-08 on June 23, 2009. The reported purpose of these ordinances are to reign in banks maintenance and care of their properties, while in their inventory. Many of these bank owned, vacant and abandoned registration ordinances require the owner to register the property with the city as being vacant and pay a fee for the registration. This fee … (1 comments)
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