Receivership Remedy for Run Down Properties Needed Now More Than Ever

As foreclosures continue flowing and banks lose additional control of their REO portfolios, more and more vacant properties in substandard condition will turn up in neighborhoods within San Diego County and the nation at large. Cities within San Diego County have taken promising steps over the years to beef up code enforcement strategies and neighborhood improvement initiatives, particularly in the City of Chula Vista and the City of San Diego. Attempts to stave off vacant/substandard/nuisance properties, coupled with an aggressive penalties system, can solve half the problem. However, once the property has been identified as a "nuisance" and the fines/penalties/charges have been issued, what next? Who ensures the property will be cleaned up and brought within compliance with the applicable code? The answer: court-appointed receivership.
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