Foreclosed property in Bronx and Investors

In last May 2010 New York State made it clear in a law that the plaintiffs are accountable for a unit once the foreclosure process kicks off – (New York Real Property Actions & Proceedings – Article 13 – § 1307 Duty to Maintain Foreclosed Property).

But things went awry in 2321 Prospect in Bronx. It was next to impossible to find out the present owners considering the multiple changing of hands. The net result was that the property was in a sorry state of disrepair. It led to a fire and deaths.

Responding to the sorry condition of the estate the city inspectors had gone ten times but apart from pasting notices on the outside they could not do much. Notices were also sent to one Domingo Cedano whose name was listed with the city authorities as the owner.