ABANDONED RESIDENTIAL PROPERTY

Amends the Code of Civil Procedure. Provides that "abandoned residential property" means residential real estate which the court finds is not occupied by a mortgagor or a bonafide occupant and as to which at least one of several listed circumstances exist. Describes designated circumstances when a property shall not be considered abandoned residential property. Provides a procedure for a motion to shorten the redemption period for abandoned residential property. Provides that upon confirmation of the judicial sale, any personal property remaining in or upon the abandoned residential property is deemed abandoned and may be disposed of or donated by the holder of the certificate of sale or the purchaser at the sale. Makes other and corresponding changes. Effective immediately.