Connecticut § 49-30p - Underwater mortgage: Definitions.
Full text of Connecticut Connecticut General Statutes § 49-30p — Underwater mortgage: Definitions., with citation guidance and answers to common questions.
§ 49-30p. Underwater mortgage: Definitions.
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 same meaning as provided in section 49-24a, except a mortgagor, for the purposes of sections 49-30p to 49-30w, inclusive, shall only include those mortgagors with personal net liquid assets, excluding retirement and tax advantaged health savings plans, that are less than one hundred thousand dollars;
(4) “Residential real property” has the same meaning as provided in section 49-24a;
(5) “Senior lien” means the first security interest placed upon a property to secure payment of a debt or performance of an obligation before one or more junior liens;
(6) “Junior lien” means a security interest placed upon a property to secure payment of a debt or performance of an obligation after a senior lien is placed on such property;
(7) “Lienholder” means a person who holds a security interest in real property; and
(8) “Underwater mortgage” means a mortgage where the debt associated with such mortgage, along with any senior lien, exceeds the fair market value of the mortgaged property as determined by a court in accordance with sections 49-30t and 49-30u.
(P.A. 16-65, S. 73; P.A. 17-236, S. 10.)
History: P.A. 17-236 made a technical change to Subdiv. (3), effective July 11, 2017.
Frequently Asked Questions About Connecticut § 49-30p
What does Connecticut General Statutes § 49-30p cover?
Section 49-30p ("Underwater mortgage: Definitions.") is part of the Connecticut General Statutes, the codified statutory law of Connecticut. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Connecticut § 49-30p?
A common citation format is "Connecticut General Statutes § 49-30p" (Connecticut). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Connecticut law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Connecticut official source linked on this page or consult a licensed Connecticut attorney.
How does Connecticut § 49-30p apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Connecticut can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Connecticut.