Connecticut does not have a specific statute of limitations with regard to the commencement of a foreclosure action.
However, Connecticut has a unique statute which may help debtors who have very old unpaid mortgages. The statute is reproduced below.
Connecticut General Statutes 49-13a – Undischarged mortgage invalid as further lien. Time periods. Tolling of time period by recording notice
Current as of: 2016
(a) When record title to real property remains encumbered by any undischarged mortgage, and the mortgagor or those owning the mortgagor’s interest therein have been in undisturbed possession of the property for at least twenty years after the expiration of the time limited in the mortgage for the full performance of the conditions thereof, or for at least forty years from the recording of the mortgage if the mortgage does not disclose the time when the note or indebtedness is payable or the time for full performance of the conditions of the mortgage, unless a notice is recorded pursuant to subsection (b) of this section, the mortgage shall be invalid as a further lien against the real property, provided an affidavit, subscribed and sworn to by the party in possession, stating the fact of such possession, is recorded on the land records of the town in which the property is situated.
(b) The record holder of an undischarged mortgage on real property may, prior to the expiration of the applicable time period specified in subsection (a) of this section, record a notice, on the land records of the town in which the property is situated, that contains: (1) The name or names of the mortgagors; (2) the recording information for the mortgage and any assignment of the mortgage; and (3) a statement of the reasons why the mortgage is valid and effective. Upon the recording of such notice in accordance with this subsection, the applicable time period after which the mortgage shall be invalid as a further misdemeanor against the real property as provided in subsection (a) of this section shall be tolled for a period of ten years from the recording of such notice. Any such notice shall be indexed in the grantor‘s index under the name or names of the mortgagors and in the grantee’s index under the name of the record holder of the mortgage.
I have never seen this statute used. Normally, a mortgage has a term of 15 or 30 years. In these situations, for the statute to benefit a debtor, at least 20 years must pass from the end of the term. A creditor can extend the “minimum time period” by filing a notice on the land records in the Town where the property is located.
If you have any questions or need assistance with a foreclosure, please feel free to contact
Attorney Robert M. Singer
2572 Whitney Avenue
Hamden, CT 06518
203-248-8278
rsingerct@yahoo.com
Serving New Haven County and All of Connecticut
I do believe that a property foreclosure can have a major effect on the debtor’s life. Property foreclosures can have a Six to decade negative effects on a client’s credit report. A new borrower who may have applied for a mortgage or any kind of loans for instance, knows that the actual worse credit rating can be, the more difficult it is to acquire a decent mortgage. In addition, it could possibly affect a borrower’s chance to find a really good place to lease or rent, if that gets the alternative housing solution. Great blog post.