Directs the department of financial services to periodically inspect residential real properties for which a lender has a duty to maintain; authorizes the department of financial services or the municipality to impose a $500 a day civil penalty for the failure of a lender to maintain an abandoned property that it has a duty to maintain; requires such lenders to register with the statewide vacant and abandoned property electronic registry.
In tenement buildings and multiple dwelling premises, further providing for definitions and providing for borrowing requirements, for abandonment of residential rental property and for maintenance by receiver; and imposing penalties.