Title 49 — Title 49: Mortgages and Liens

Sec. 49-1. When foreclosure a bar to further action on debt. The foreclosure of a mortgage is a bar to any further action upon the mortgage debt, note or obligation against the person or persons who are liable for the payment thereof who are made parties to the foreclosure and al…

Sec. 49-10. Assignment of mortgage debt. Form of instrument. Requirements. Sufficient notice of assignment. Allocation of recording fees paid by a nominee of a mortgagee. Operation of executed assignment. (a) As used in this section, “mortgage debt” means a debt or other obligati…

Sec. 49-10a. Request for payoff statement or reinstatement payment statement. (a) A mortgagee shall, upon written request of the mortgagor or the mortgagor's attorney or other authorized agent provide a payoff statement or reinstatement payment statement in writing to the person …

Sec. 49-10b. Residential real estate transaction involving payoff of mortgage loan. Disclosure statement prepared and sent to mortgage holder by notification agent. Form. (a) For the purposes of this section: (1) “Date of completion of the closing” means the date that payoff fund…

Sec. 49-11. Release of mortgage by executor, administrator, spouse, next of kin, guardian, conservator or other suitable person. The executor of the will or administrator of the estate of any deceased mortgagee, or the spouse or next of kin, or other suitable person whom the cour…

Sec. 49-12. Release of mortgage by foreign executor, administrator, trustee, conservator or guardian. The executor of the will or the administrator or trustee of the estate of any deceased nonresident, or the conservator or guardian of any nonresident person, may, by a release or…

Sec. 49-13. Petition for discharge of mortgage or ineffective attachment, lis pendens or lien. (a) When the record title to real property is encumbered (1) by any undischarged mortgage, and (A) the mortgagor or those owning the mortgagor's interest therein have been in undisturbe…

Sec. 49-13a. Undischarged mortgage invalid as further lien. Time periods. Tolling of time period by recording notice. (a) When record title to real property remains encumbered by any undischarged mortgage, and the mortgagor or those owning the mortgagor's interest therein have be…

Sec. 49-14. Deficiency judgment. (a) At any time within thirty days after the time limited for redemption has expired, any party to a mortgage foreclosure may file a motion seeking a deficiency judgment. Such motion shall be placed on the short calendar for an evidentiary hearing…

Sec. 49-15. Opening of judgments of strict foreclosure. (a)(1) Any judgment foreclosing the title to real estate by strict foreclosure may, at the discretion of the court rendering the judgment, upon the written motion of any person having an interest in the judgment and for caus…

Sec. 49-16. Foreclosure certificate. Penalty. When any mortgage of real estate has been foreclosed, and the time limited for redemption has passed, and the title to the mortgaged premises has become absolute in the mortgagee, or any person claiming under him, he shall, either in …

Sec. 49-17. Foreclosure by owner of debt without legal title. When any mortgage is foreclosed by the person entitled to receive the money secured thereby but to whom the legal title to the mortgaged premises has never been conveyed, the title to such premises shall, upon the expi…

Sec. 49-17a. Collection of rental payments without legal title. Any previous mortgagor of real property against whom a final judgment of foreclosure has been entered, who continues to collect rental payments on such property after passage of such mortgagor's law day, and who has …

Sec. 49-18. Foreclosure by executor, administrator or trustee. When any executor, administrator or trustee obtains a decree of foreclosure, the premises foreclosed, or the proceeds thereof if sold by him, shall be held by him in the same manner and for the benefit of the same per…

Sec. 49-19. Title to vest in encumbrancer paying debt and costs. In actions of foreclosure, when a judgment of strict foreclosure is rendered and there are subsequent encumbrances, the judgment may provide that, upon the payment of the debt and costs by any encumbrancer, after al…

Sec. 49-2. Inclusion of taxes and other items as part of mortgage debt. Open-end mortgage. Reverse annuity mortgage. Negative amortization. (a)(1) Premiums of insurance, taxes and assessments paid by the mortgagee, (2) assessments levied by an association, as defined in section 4…

Sec. 49-20. Redemption by holder of encumbrance on part of property foreclosed. When a strict foreclosure judgment contains a provision that title to the real estate being thereby foreclosed shall vest in the encumbrancer who redeems pursuant to the judgment, or specifies that th…

Sec. 49-21. Defendant to receive and file certificate of satisfaction or certificates of judgment of strict foreclosure or foreclosure by sale. When, in any action of foreclosure, any defendant has paid the debt and costs and the title to the mortgaged premises has become absolut…

Sec. 49-22. Execution of ejectment on foreclosure judgment. Disposition of property. (a) In any action brought for the foreclosure of a mortgage or lien upon land, or for any equitable relief in relation to land, the plaintiff may, in his complaint, demand possession of the land,…

Sec. 49-22a. Execution of ejectment on foreclosure judgment on mortgage guaranteed by Administrator of Veterans' Affairs. In any action brought for the foreclosure of a mortgage upon land where the court may, in accordance with the provisions of section 49-22, issue execution of …

Sec. 49-23. Ejectment by mortgagee barred by tender of debt and costs. In any action brought by a mortgagee of real estate, or any person holding title under him, against the mortgagor, or any person holding title to the estate under him, to obtain possession of the estate by vir…

Sec. 49-24. Court may foreclose lien or mortgage on land by sale or market sale. All liens and mortgages affecting real property may, on the written motion of any party to any suit relating thereto, be foreclosed (1) by a decree of sale instead of a strict foreclosure at the disc…

Sec. 49-24a. Definitions. For purposes of a foreclosure by market sale in accordance with this section and sections 49-24b to 49-24g, inclusive: (1) “Mortgage” means a mortgage deed, deed of trust or other equivalent consensual security interest on residential real property secur…

Sec. 49-24b. Agreement to pursue foreclosure by market sale. A mortgagor and a mortgagee may agree, by mutual consent, to pursue a foreclosure by market sale pursuant to sections 49-24b to 49-24g, inclusive. Nothing herein shall be construed as requiring either the mortgagor or m…

Sec. 49-24c. Appraisal of property in foreclosure by market sale. If a mortgagee and mortgagor both elect, pursuant to section 49-24b, to proceed with further discussions about the possibility of pursuing a mutually acceptable foreclosure by market sale, the mortgagee shall cause…

Sec. 49-24d. Listing agreement in foreclosure by market sale. As soon as practicable after receiving a report of a written appraisal performed pursuant to section 49-24c, the mortgagee shall furnish the mortgagor with a copy of such appraisal. If the appraisal indicates that the …

Sec. 49-24e. Contract for sale of property in foreclosure by market sale. (a) If a mortgagor executes a listing agreement that is acceptable to both the mortgagee and mortgagor pursuant to section 49-24d and receives an offer to purchase the residential real property that encompa…

Sec. 49-24f. Judgment of foreclosure by market sale. A mortgagee may file a motion for judgment of foreclosure by market sale on or after the ten days following the return date specified in the complaint filed in accordance with subsection (b) of section 49-24e. Upon motion of th…

Sec. 49-24g. Right-of-first-refusal law days. When the court renders a judgment of market sale pursuant to section 49-24f, the court shall schedule, not later than thirty days from the date of the entry of a judgment of foreclosure by market sale in accordance with said section, …

Sec. 49-25. Appraisal of property. When the court in any such proceeding is of the opinion that a foreclosure by sale should be decreed, it shall, in its decree, appoint a person to make the sale and fix a day therefor, and shall direct whether the property shall be sold as a who…

Sec. 49-26. Conveyance; title of purchaser. When a sale has been made pursuant to a judgment therefor and ratified by the court, a conveyance of the property sold shall be executed by the person appointed to make the sale, which conveyance shall vest in the purchaser the same est…

Sec. 49-27. Disposal of proceeds of sale. The proceeds of each such sale shall be brought into court, there to be applied if the sale is ratified, in accordance with the provisions of a supplemental judgment then to be rendered in the cause, specifying the parties who are entitle…

Sec. 49-28. When proceeds of sale will not pay in full. If the proceeds of the sale are not sufficient to pay in full the amount secured by any mortgage or lien thereby foreclosed, the deficiency shall be determined, and thereupon judgment may be rendered in the cause for the def…

Sec. 49-29. Expenses of sale and costs. The court shall order the judgment and costs of the plaintiff to be first paid out of the proceeds of such sale and shall allow, to such of the parties as receive the balance of such proceeds, the costs usually allowed to successful parties…

Sec. 49-2a. Interest on funds held in escrow for payment of taxes and insurance. On and after July 1, 1993, each state bank and trust company, national banking association, state or federally-chartered savings and loan association, savings bank, insurance company and other mortga…

Sec. 49-2b. (Formerly Sec. 37-10). Interest on escrow accounts; regulations of Banking Commissioner. The Banking Commissioner shall adopt such regulations, in accordance with chapter 54, as are necessary to carry out the provisions of section 49-2a and shall specify the form mort…

Sec. 49-2c. Exceptions. (a) In no event shall interest be required to be paid on escrow accounts where (1) there is a contract between the mortgagor and the mortgagee, entered into before October 1, 1975, which contains an express disclaimer of an obligation on the part of the mo…

Sec. 49-3. Mortgage securing future advancements. (a) Any mortgage to secure future advancements of money for construction or repair of buildings or improvements on land in this state, including site improvements of every kind with or without the construction or repair of any bui…

Sec. 49-30. Omission of parties in foreclosure actions. When a mortgage or lien on real estate has been foreclosed and one or more parties owning any interest in or holding an encumbrance on such real estate subsequent or subordinate to such mortgage or lien has been omitted or h…

Secs. 49-30a to 49-30o. Reserved for future use.

Sec. 49-30p. Underwater mortgage: Definitions. For purposes of this section and sections 49-30q to 49-30w, inclusive: (1) “Mortgage” has the same meaning as provided in section 49-24a; (2) “Mortgagee” has the same meaning as provided in section 49-24a; (3) “Mortgagor” has the sam…

Sec. 49-30q. Modification of underwater mortgage. Notwithstanding any provision of the general statutes, any underwater mortgage on residential real property may be modified, and the principal balance increased by the amount of accrued interest, fees and costs allowed by law, wit…

Sec. 49-30r. Conveyance of property encumbered by underwater mortgage in satisfaction of mortgagor's obligation. Transfer agreement. A mortgagor of an underwater mortgage may elect to convey the residential real property encumbered by the mortgage to a mortgagee in full or partia…

Sec. 49-30s. Transfer agreement to convey property subject to underwater mortgage. A mortgagor of an underwater mortgage may enter into a transfer agreement to convey the residential real property subject to the mortgage to a third party and, as a condition of such conveyance, pa…

Sec. 49-30t. Judgment of loss mitigation following agreement under section 49-30q or 49-30r. A mortgagee may file a motion for judgment of loss mitigation at any time after the fifteen days following the return date in a pending foreclosure action following execution of an agreem…

Sec. 49-30u. Judgment of loss mitigation following agreement under section 49-30s. A mortgagee may file a motion for judgment of loss mitigation at any time after the fifteen days following the return date in a pending foreclosure action following an agreement under section 49-30…

Sec. 49-30v. Nonentry of judgment of loss mitigation. If the court does not enter a judgment of loss mitigation, then the modification or conveyance contemplated by the mortgagor and mortgagee under section 49-30q, 49-30r or 49-30s shall not be consummated. Nothing in this sectio…

Sec. 49-30w. Junior lien on property encumbered by underwater mortgage. Nothing in sections 49-30q to 49-30u, inclusive, shall be construed as eliminating the debt or any judgment associated with an affected junior lien on the residential real property encumbered by the underwate…

Sec. 49-31. Actions against the state. In any action to foreclose a mortgage or lien on any land in which the state, or any officer or agent thereof, claims to have an interest subordinate to that of the party seeking the foreclosure, the state, or such officer or agent, as the c…

Sec. 49-31a. Subordination clauses. Section 49-31a is repealed. (P.A. 76-357, S. 1, 3; P.A. 78-89, S. 2, 3.)