Connecticut § 49-24f - Judgment of foreclosure by market sale.

§ 49-24f. Judgment of foreclosure by market sale.

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 the mortgagee and with the consent of the mortgagor, the court, after notice and hearing, may render a judgment of foreclosure by market sale approving the purchase and sale contract, which judgment shall be a final judgment for purposes of appeal, and appoint a person to make the sale. The only issues at such hearing shall be a finding of the fair market value of the residential real property and of any priority liens on such property and a determination of the amount of the fees and expenses of sale, including any real estate broker commissions, the person appointed to make the sale, the reasonable costs and expenses incurred by the purchaser of such property in connection with the purchase and sale contract, the mortgagee's debt and whether the mortgagee's debt together with any priority liens exceeds the fair market value of such property. Following such hearing, the court may render a supplemental judgment that specifies the persons who are entitled to proceeds from the market sale and the amount of such proceeds to which each such person is entitled. If the court denies the mortgagee's motion for the judgment of foreclosure by market sale contemplated by this section or if circumstances develop that make it reasonably likely that a sale will not be consummated in accordance with the judgment of foreclosure by market sale entered pursuant to this section, then, subject to the provisions of sections 49-31k to 49-31o, inclusive, (1) the mortgagor may, if eligible, petition for inclusion in the Ezequiel Santiago Foreclosure Mediation Program set forth in sections 49-31k to 49-31o, inclusive, provided the mortgagor did not substantially contribute to the events leading to such denial or circumstances and, in order to grant such petition, the court shall (A) give consideration to any testimony or affidavits the parties may submit in support of or in opposition to such petition, and (B) find that (i) such petition is not motivated primarily by a desire to delay the entry of a judgment of a foreclosure, and (ii) it is highly probable the parties will reach an agreement through mediation, and (2) the mortgagee shall have the right to request the entry of a judgment of foreclosure in accordance with the other provisions of law, including the provisions governing strict foreclosure.

(P.A. 14-84, S. 7; 14-217, S. 207; P.A. 19-145, S. 2.)

History: P.A. 14-217 changed effective date of P.A. 14-84, S. 7, from October 1, 2014, to January 1, 2015, effective June 13, 2014; P.A. 19-145 changed “foreclosure mediation program” to “Ezequiel Santiago Foreclosure Mediation Program” in Subdiv. (1), effective July 1, 2019.