Attorney General Schneiderman to release 'zombie property' and land bank legislation

New York State Attorney General Eric Schneiderman is expected to release legislation that will put lenders in charge of the maintenance and repair of abandoned properties. So-called "zombie properties" are homes throughout New York that have been abandoned by their owners before banks have finished the foreclosure process. According to Schneiderman’s office, he hopes his legislation will force banks to take responsibility for zombie properties soon after they are abandoned by requiring a registry and centralized database of abandoned homes and compelling lenders to pay for their upkeep.