Assembly Bill No. 373â€“Assemblyman Goicoechea CHAPTER.......... AN ACT relating to real property; prohibiting under certain circumstances the removal, concealing or destruction of real property that is subject to foreclosure with the intent to defraud; providing a penalty; and providing other matters properly relating thereto. Legislative Counselâ€™s Digest: This bill provides that a person in possession of real property who, under certain circumstances, removes, conceals or destroys any real property that is subject to foreclosure with the intent to defraud and who causes a secured party to suffer pecuniary loss is guilty of a misdemeanor.
Theft is a HUGE problem with vacant property around the valley:
- Copper Theft
- Air Conditioners
- Pool Pumps
- Interior theft & vandalism
Will homeowners just go for a deed in lieu of foreclosure when their properties are vacant so they are not responsible for this type of property destruction? Â It all remains to be seen how this will play out!
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