Connecticut Seal

General Assembly

 

Raised Bill No. 952

January Session, 2009

 

LCO No. 3364

 

*03364_______BA_*

Referred to Committee on Banks

 

Introduced by:

 

(BA)

 

AN ACT SETTING A PRESUMPTIVE HOURLY RATE FOR COMMITTEE FEES IN FORECLOSURE MATTERS.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Section 1. Section 49-25 of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2009):

(a) 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 whole or in parcels, and how the sale shall be made and advertised; but, in all cases in which such sale is ordered, the court shall appoint one disinterested appraiser who shall, under oath, appraise the property to be sold and make return of the appraisal to the clerk of the court. Upon motion of the owner of the equity of redemption, the court shall appoint a second appraiser in its decree. If the plaintiff is the purchaser at sale, or if the property is redeemed at any time prior to the approval of the sale, or if for any reason the sale does not take place, the expense of the sale and appraisal or appraisals shall be paid by the plaintiff and be taxed with the costs of the case. If, after judgment has been rendered, the amount found to be due and for which foreclosure is decreed, together with the interest and the costs, is paid to the plaintiff before the sale, all further proceedings in the suit shall be stayed.

(b) When the court appoints a person to make a foreclosure by sale of residential property, the court shall set the fees for such person at one hundred dollars per hour.

This act shall take effect as follows and shall amend the following sections:

Section 1

October 1, 2009

49-25

Statement of Purpose:

To set committee fees for residential foreclosures by sale at one hundred dollars an hour.

[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]