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Trade tensions are increasing.  Higher tariffs are instituted by the U.S.    China is responding very quickly to the added tariffs.

We are already close to the end of the economic expansion.   Absent a change in US policy, this appears to be the beginning of a trade war.    Unfortunately, any trade war is likely to have a negative effect on the economy, possibly resulting in a recession as early as next year, 2019.

In addition, oil prices are going up.    These price increases can have a further negative effect on economic growth.

There can be a one-two punch for the economy – a trade war and higher oil prices.    Tariffs raise prices of imported materials, and higher oil prices further raise costs.

Investors would be wise to trade into a more conservative stance, by rebalancing their portfolio.

If you have a investor claim which requires securities arbitration, 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

 

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

 

There are many situations in which a creditor, such as a bank, has a judgment against a debtor. The debtor can have a joint bank account with a third party. Commonly, the debtor has a bank account with
a spouse, parent or child.

Under Connecticut law, a creditor can get a Financial Institution Execution and execute against the full amount of the account, regardless of who put the money into the bank account. See Fleet Bank Connecticut, N.A. v. Charles Carillo, 240 Conn. 343 (1997).

In addition, a Bank can setoff the full amount of money in a joint bank account of a debtor who owes money to the Bank.   Masotti v. Bristol Savings Bank, 232 Conn 172 (1995).

If you have any questions concerning collection law or bank executions, 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

Recent decisions from the District Court of Connecticut have clarified the following:

In re Rogers, 489 B.R. 327 (D. Conn. 2013)

In Re Curwen, Case No. 3-15-cv-1874 (SRU) (2016) quoted below

 

“The question in this bankruptcy appeal is whether a debtor in a Chapter 13 case who is ineligible for discharge as a result of receiving a Chapter 7 discharge within the prior four years is for that reason per se barred from obtaining confirmation of a plan that contemplates voiding
(or “stripping off” or “lien-stripping”) a wholly unsecured, junior mortgage lien.”

Editors Note – In a Chapter 20, a debtor first files chapter 7 to eliminate the personal liabilities.   A debtor may then file chapter 13 to deal with secured creditors, or priority debt.

“Under section 506(a)(1), “[a]n allowed claim of a creditor secured by a lien on property in which the estate has an interest . . . is a secured claim to the extent of the value of such creditor’s interest in the estate’s interest in such property . . . and is an unsecured claim to the extent that the value of such creditor’s interest . . . is less than the amount of such allowed
claim.” By that language, the holder of a junior mortgage that attaches to no value in the collateral (because the value of the property is less than or equal to the amount outstanding on the primary mortgage or other senior encumbrances) is the holder of an unsecured claim. In that situation, the junior mortgage holder will not be protected by the antimodification exception of section 1322(b)(2) and the wholly unsecured lien may be stripped. In re Pond, 252 F.3d at 126.”

Editor’s Note – the debtor is seeking to strip off a second mortgage which is wholly unsecured, in that the amount due on the first mortgage is greater than the fair market value of the property.

“BAPCPA could have, but does not, categorically prohibit the filing of a
Chapter 13 petition and plan, or the application of section 1322(b)(2) to strip liens, when a debtor received a Chapter 7 discharge in the preceding four years.”

“The Bankruptcy Code, as amended by the BAPCPA, does not create a per se bar to the confirmation of a “Chapter 20” plan that contemplates stripping wholly-unsecured junior liens during the period that a debtor is ineligible for discharge.”

EDITORS NOTES – There are now two District Court decisions which hold that a debtor may file a Chapter 7  bankruptcy followed by a Chapter 13 bankruptcy, in order to strip off a wholly unsecured second mortgage, even if a debtor cannot obtain a Chapter 13 discharge.

If you have any bankruptcy questions, including questions about Chapter 20 bankruptcy, 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

 

 

COMMERCIAL ARBITRATION – CAN BE COSTLIER THAN LITIGATION

There are many contracts between businesses which provide for arbitration, in the event of a dispute between the parties.

Traditionally, arbitration has been sold as a relatively inexpensive and easy way to settle a legal dispute. Tradition is not always right.

In most lawsuits, each side is responsible for their own attorney’s fees. However, it is relatively inexpensive to start a lawsuit. In addition, the parties can try a case with a judge, who is paid by the State or Federal government.

Compare that situation with arbitration. Typically, there is a filing fee to institute arbitration, which is much higher than a court filing fee. In addition, there will be hearing fees, which will include the cost of an arbitrator or several arbitrators. Therein lies the cost. The parties not only have to pay their own attorney, but also have to pay for the arbitrators who can each cost $300 per hour.

I have seen situations where an arbitration has taken several weeks of hearings, costing thousands of dollars. A party to a lawsuit will not be faced with thousands of dollars in hearing fees for a court trial.

Parties to a commercial contract must be very careful when placing a mandatory arbitration clause in a contract. Arbitration costs have the potential to cost thousands of dollars prior to a final decision on the merits of a claim.

If you are involved in a business dispute, 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

Many people have obtained policies from private insurance companies, in the case of long-term and short-term disability.    The policies can be obtained as part of an employer’s fringe benefits, or directly from an insurance company.

Some disability policies provide for payment when a person is disabled from his or her “own occupation.”    These policies are more expensive because insurance payments are made if you cannot do the particular tasks of your “own occupation,” even if you can perform work in another occupation.

Other policies define “disability” more narrowly.  A policy may only pay in situations in which “you are unable to work in any occupation for which you are qualified.”

To properly evaluate a disability claim, you and your attorney need to review the full policy, particularly the language defining the term “disability.”

Unfortunately, I have seen situations in which insurance companies have made it difficult for an insured to collect on a disability insurance policy.   A claimant needs to provide proof of a disability, as defined under the insurance policy.

If you or someone you know are having trouble collecting disability insurance benefits, 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

 

 

A fire can have a devastating affect on many people’s lives.   A fire can be caused by many factors including

1.  cooking equipment, such oil heated in a pot or pan

2.  heating –  such as  space heaters, which can cause other material, including bedding, to catch on fire

3.  smoking – it is too easy to fall asleep while smoking in bed, or on a chair.

4.  electrical equipment – any equipment can cause an electrical fire.  Be careful with overloading a circuit.  Be on the lookout for torn or frayed cords.

5.  candles -never leave lit candles unattended.

6.  children can accidently cause a fire.   Place matches and lighters in places which are away from reach of young children.

7.  Bad wiring.   This includes old wiring, and fuses.    Watch out for fuses which blow, at unexpected times.  I had a situation in which the wire for my microwave was connected to a fuse which had wiring to one side of my house (rather than to a separate fuse).  I found out about this situation when the fuse for the microwave blew.

8.   Barbecues.   Keep your barbecue away from the house, to prevent an accident fire.   Make sure that the barbecue is shut off before you leave the barbecue for the night.   Be particularly careful with self-made barbecues.

9.   Flammable liquids.   Watch out how you store items such as gas in your home.   Gas should be stored in a proper container, away from any source of flames.   Know which liquids are flammable, and need special storage.

10.   Lighting.    Light bulbs can cause a fire, because of the heat from the bulb.   Make sure that lighting fixtures are secure, and placed in a safe spot, away from any items which can catch on fire.

There are many ways in which a fire can occur.   You need to protect yourself and your family from the risks of a fire,

A fire loss can be devastating, to people and property.

If you have had a loss from a fire, 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

Connecticut’s dog bite law can be found at Connecticut General Statutes 22-357.    The law provides for strict liability for a dog owner, when a dog causes damage to a person or property.

The law permits claims in cases in which a dog causes injury.   This is broader than a claim with a dog bite.  For example, a large dog may injure a child by accidently pushing the child, causing injury.  In these situations, the dog owner can held responsible for the injuries.

It is not a defense that a dog owner did not know that a dog was likely to cause the damage, or the owner used reasonable care to prevent the injury.

There are limited exceptions to liability

1.  The person injured was trespassing (this exception is very limited – and requires more than a person unlawfully on someone else’s property)
2. the person injured was causing a tort – possibly includes person is stealing property
3. the dog which caused the injury was being teased, abused, or tormented.

An explanation of the statute can be found at (cut and paste)

https://www.cga.ct.gov/2012/rpt/2012-R-0459.htm

 

If you have any questions concerning an injury caused by a dog, 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

In many situations, a person will have an insurance claim because of a loss or damage to personal property.

In a common situation, there is a water leak or fire at a residence, which causes substantial damage to household items.   In these situations, a homeowner will need to make an insurance claim.

There are several important things to do to ensure that the claim is promptly handled.  First contact the insurance company to report the claim, and fill out any necessary forms.

Second, you will need to provide an itemization of the items which you claim are destroyed or damaged.    In these situations, it is recommended that you record the loss, using a camera or videotape.    After you have a record of the loss, try to obtain any documents showing the purchase of the items claims.  You want to keep proof of your loss, until your insurance company pays your claim in full.

The pictures and video are proof of your actual loss, and will help prevent a dispute with the insurance company about the extent of your loss (you don’t want to have to argue with an insurance company about which items were lost or damaged).

If you have any questions or need assistance, please feel free to contact

Attorney Robert M. Singer

2572 Whitney Avenue

Hamden, Connecticut  06518

203-248-8278

rsingerct@yahoo.com

 

A Power of Attorney is a legal document which allows one person to act on behalf of attorney person.    One person has the “power” to act on behalf of the other person.

The Principal is the person who gives the power to act, on behalf of himself or herself.

The agent is the person who gets the power to act on behalf of the agent.

A Power of Attorney is often given from a parent, as principal, to a child, as agent.  Often a parent is ill and unable for fully care from himself or herself and needs assistance from a child in care.

A power of attorney can be “durable.”    With a durable power of attorney, an agent is still authorized to act on behalf of a principal even if a principal becomes incapacitated, unable to make decisions.   If a power of attorney is not durable, a power of attorney ends when a principal becomes incapacitated.     Under recent law changes, a Power of Attorney is durable, except if the Power of Attorney document specifically states that the Power is not durable.

Anyone considering a Power of Attorney must be certain that the person who will act as agent is trustworthy.  There have been too many instances of an agent not acting in the best interests of the principal.

There are two standard forms which are available for use.   An explanation of the law can be found at

https://www.cga.ct.gov/2016/ACT/pa/2016PA-00040-R00SB-00142-PA.htm

If you have an questions or would like assistance, please feel free to contact

Attorney Robert M. Singer

2572 Whitney Avenue

Hamden, Connecticut

203-248-8278

rsingerct@yahoo.com