Connecticut Foreclosure Law Summary

By: Alexander Thomas

In Connecticut, only judicial foreclosure is conducted.

What is the processing period for foreclosure in Connecticut?
Normally processing period is of two months in Connecticut.

Is there any right of redemption in Connecticut for foreclosure?
No, there is no right of redemption.

Are deficiency judgments permitted in Connecticut?
Yes, deficiency judgments are permitted in Connecticut.

Which law provision governs foreclosure in Connecticut?
The laws which govern Connecticut foreclosures are found in Title 49 (Mortgages and Liens), Chapter 846 (Mortgages), ?49-1 to ?49-31j of the General Statutes of Connecticut.

What happens during Judicial Foreclosure in Connecticut?
There are two types of foreclosures followed in Connecticut.
Strict foreclosure
Foreclosure by sale

In strict foreclosure, there is no actual sale of property. Lender has to go to court and obtain court order mentioning that the borrower is in default. If he succeeds in that, the property is transferred in his name automatically. But court also give some time to borrower for the payment, if he fails in doing so, it goes to lender automatically. Then the lender has to record a certificate of foreclosure within 30 days which should have description of property, the foreclosure proceedings, the mortgage and the date the title became absolute.

In foreclosure by sale, the court decides time and manner of the sale, appoints a committee for said sale and also appoints three appraisers to determine the property value. The borrower has right to stop the sale by giving balance payment any time. Generally sale occurs on the property on a Saturday. A deposit of 10 percent of the property's value is required from the winning bidder, unless the lender is the winning bidder.

This is legal information; it should not be treated as legal advice.

Foreclosures
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 

» More on Foreclosures