Connecticut § 52-498 - Sale of land when trust cannot be executed.

§ 52-498. Sale of land when trust cannot be executed.

Sec. 52-498. Sale of land when trust cannot be executed. (a) If real property is held by a trustee under a trust created by deed or will and, by reason of a change of circumstances or in the condition of the real property since the creation of the trust, the execution of the trust in exact accordance with the terms of the deed or will has become impossible or would fail to secure the objects manifestly intended by the grantor or testator in the deed or will, the superior court for the judicial district in which the real property is situated may, on the complaint of the trustee or any party beneficially interested in the trust, order the sale of the real property, or any part thereof, and the investment of the proceeds, either in other real property or as trust funds generally may be by law invested for the benefit of the party beneficially interested in the trust, in such manner as the court deems the most suitable to secure the objects for which the trust was originally created, as nearly as may be, according to the intent of the original grantor or testator appearing in the original deed or will.

(b) All parties interested in the real property, by reason of the trust, or as reversioners, shall be made parties to any action brought under this section.

(1949 Rev., S. 8234; P.A. 78-280, S. 2, 127; P.A. 82-160, S. 188.)

History: P.A. 78-280 substituted “judicial district” for “county”; P.A. 82-160 replaced real “estate” with real “property”, rephrased the section and inserted Subsec. indicators.

Cited. 63 C. 135, 136. Applied in case of church property originally held by trustees, all of whom died without exercising power of appointment of successor; 92 C. 471; so, where church property is no longer in part of city where its use for purposes of worship is feasible; limitations on court's power where donor has inserted express reverter. 98 C. 683, 684; 99 C. 31. Trustee may sell house where person having use of it under testamentary trust renounces provisions of will in lieu of statutory share; 108 C. 264; prerequisites for order of sale. Id., 267. Cited. 120 C. 86; 123 C. 256. Section contemplates writ and complaint in usual form. 133 C. 11.

Cited. 5 CA 142.

Cited. 9 CS 148. Cy pres doctrine in Connecticut has been adopted by statute since 1886. 15 CS 431. Trustees authorized to sell land and building and invest proceeds of trust establishing a girls' high school where due to changed circumstances it was impractical to continue original plan. 18 CS 517. Trustees may sell residential property deteriorated by age and floods and apply the proceeds to erection of a new building to serve original purpose. 20 CS 364. Cited. 29 CS 465; 31 CS 93.