REAL ESTATE – Legislation – Effective July 1, 2018
- Legislation
The following real estate related bills were passed and signed into law by the Governor:
The highlighted bill sections below can be accessed via the following link:.https://www.cga.ct.gov/asp/aearchives/20180701ActsEffective.asp.
Abandoned Cemetery Lots – A new law changes the procedure that towns and mutual nonstock cemetery associations or corporations use to recover burial plots for which assessed charges remain unpaid. Among other things, it reduces, from 10 to one, the minimum number of years that assessments on a burial plot must remain unpaid before a cemetery association may sell the plot’s unused portion. Effective July 1, 2018 and applicable to contracts entered into on or after that date.
Classifying Farm Land under the PA 490 Program – A new law requires Tax Assessors to approve applications to classify as farmland any land that meets the farmland criteria under the PA 490 Program, even if the parcel or portion thereof does not meet municipal zoning regulation standards concerning minimum acreage requirements for residential or agricultural parcels. Under the PA 490 Program, property classified as farmland must be assessed at its current use value, rather than its fair market value. Effective October 1, 2018, and applicable to assessment years beginning on or after that date).
Continuing a Nonconforming Use, Building, or Structure – A new law prohibits municipal zoning authorities from requiring a special permit or special exception for the continuance of a nonconforming use, building, or structure (i.e., a property use that legally exists at the time a zoning restriction prohibiting or limiting it is adopted). Effective July 1, 2018.
Lienholder Payoff Statement – By law, a judgment lien secures the unpaid amount of any money judgment and may be placed on any real property of the debtor by recording it on the land records in the town where the property lies (CGS § 52-380a). A new law creates a process by which a judgment lienholder may provide a payoff statement to a debtor, the debtor’s attorney, or current owner of the property subject to the lien. The new law requires a judgment lienholder or the lienholder’s attorney to provide a written payoff statement within a specified time period after receiving a written request for it. Effective October 1, 2018.
Residential Disclosure Report – A new law (1) codifies the Residential Disclosure Report home sellers must provide to purchasers and (2) expands what must be included in it. Prior law required the Department of Consumer Protection to prescribe the form through regulations. Additionally, the new law specifies the format for the report’s template (e.g., it must fit on certain size pages and have at least nine-point font), Effective July 1, 2018.
