equitable conversion doctrine in Connecticut

2003Furthermore, “[t]he estate of an owner of real estate under contract of sale, under the doctrine of equitable conversion, becomes in equity an estate in personalty and in case of his death before his contract is performed, or fully performed, the contract and the proceeds thereof are personal property or assets in the hands of his administrator or personal representative to be administered as the rest of his personal assets are administered.” (Internal quotation marks omitted.) Pigeon v. Hatheway, 156 Conn. 175, 177 , 239 A.2d 523 (1968).

2003Furthermore, “[t]he estate of an owner of real estate under contract of sale, under the doctrine of equitable conversion, becomes in equity an estate in personalty and in case of his death before his contract is performed, or fully performed, the contract and the proceeds thereof are personal property or assets in the hands of his administrator or personal representative to be administered as the rest of his personal assets are administered.” (Internal quotation marks omitted.) Pigeon v. Hatheway, 156 Conn. 175, 177 , 239 A.2d 523 (1968).

2013Zappone Co. v. Mark, 197 Conn. 264 , 267 497 A.2d 32 (1985) (Zappone): “Under the doctrine of equitable conversion . . . the purchaser of land under an executory contract is regarded as the owner, subject to the vendor’s lien for the unpaid purchase price, and the vendor holds the legal title in trust for the purchaser. . . .

2013Zappone Co. v. Mark, 197 Conn. 264 , 267 497 A.2d 32 (1985) (Zappone): “Under the doctrine of equitable conversion . . . the purchaser of land under an executory contract is regarded as the owner, subject to the vendor’s lien for the unpaid purchase price, and the vendor holds the legal title in trust for the purchaser. . . .

2009Zappone Co. v. Mark, supra, 197 Conn. 267 -68 (binding sales agreement passes equitable title, under doctrine of equitable conversion, upon its execution); Society for Savings v. Bragg, 38 Conn. Sup. 8, 13-14 , 444 A.2d 919 (1981) (“Under the doctrine of equitable conversion . . . the purchaser of the land under an executoiy contract is regarded as the owner, subject to the vendor’s lien for the unpaid purchase price, and the vendor holds the legal title in trust for the purchaser. . . .

2009Zappone Co. v. Mark, supra, 197 Conn. 267 -68 (binding sales agreement passes equitable title, under doctrine of equitable conversion, upon its execution); Society for Savings v. Bragg, 38 Conn. Sup. 8, 13-14 , 444 A.2d 919 (1981) (“Under the doctrine of equitable conversion . . . the purchaser of the land under an executoiy contract is regarded as the owner, subject to the vendor’s lien for the unpaid purchase price, and the vendor holds the legal title in trust for the purchaser. . . .

1954But that aside, the doctrine of equitable conversion “is not a fixed rule of law, but proceeds upon equitable principles which take into account the result which its application will accomplish.” Emery v. Cooley, 83 Conn. 235, 239 , 76 A. 529 ; Anderson v. Yaworski, 120 Conn. 390, 394 , 181 A. 205 .

1954But that aside, the doctrine of equitable conversion “is not a fixed rule of law, but proceeds upon equitable principles which take into account the result which its application will accomplish.” Emery v. Cooley, 83 Conn. 235, 239 , 76 A. 529 ; Anderson v. Yaworski, 120 Conn. 390, 394 , 181 A. 205 .

2003Section 52-495 of the General Statutes states that "[c]ourts having jurisdiction of actions for equitable relief may, upon the complaint of any person interested, order partition of any real property held in joint tenancy, tenancy in common, coparcenary or by tenants in tail." "Under the doctrine of equitable conversion a contract for the sale of land vests equitable title in the vendee." (Internal quotation marks omitted.) Fidelity Trust Co. v. BVD Associates , 196 Conn. 270 , 282 , 492 A.2d 180 (1985).

2003Section 52-495 of the General Statutes states that "[c]ourts having jurisdiction of actions for equitable relief may, upon the complaint of any person interested, order partition of any real property held in joint tenancy, tenancy in common, coparcenary or by tenants in tail." "Under the doctrine of equitable conversion a contract for the sale of land vests equitable title in the vendee." (Internal quotation marks omitted.) Fidelity Trust Co. v. BVD Associates , 196 Conn. 270 , 282 , 492 A.2d 180 (1985).

1998The vendor's interest thereafter in equity is in the unpaid purchase price, and is treated as personalty; Bowne v. Ide , 109 Conn. 307 [ 147 A. 4 (1929)]; while the purchaser's interest is in the land and is treated as realty. 18 C.J.S. 49 [Conversion § 9].' Cooper v. Polayes , 19 Conn. Sup. 353 , 354-55 , 113 A.2d 599 (1955)." Society for Savings v. Bragg , 38 Conn. Sup. 8 , 13-14, 444 A.2d 919 (1981).

1995Plaintiff, however, maintains that for purposes of continuation of this appeal, the executor of the decedent's (Mrs. Olyphant's) estate could be substituted as a party defendant 8 , and the litigation would proceed with parties adversely positioned; plaintiff's contention is largely premised on the concept set forth in Bowne v. Ide, 109 Conn. 307 , 315 (1929) (and on General Statutes Section 45a-325 ) that the estate of an owner of real estate under contract of sale, under the doctrine of equitable conversion, becomes in equity an estate in personalty and in case of his death before the contra

1998The vendor's interest thereafter in equity is in the unpaid purchase price, and is treated as personalty; Bowne v. Ide , 109 Conn. 307 [ 147 A. 4 (1929)]; while the purchaser's interest is in the land and is treated as realty. 18 C.J.S. 49 [Conversion § 9].' Cooper v. Polayes , 19 Conn. Sup. 353 , 354-55 , 113 A.2d 599 (1955)." Society for Savings v. Bragg , 38 Conn. Sup. 8 , 13-14, 444 A.2d 919 (1981).

1998The vendor's interest thereafter in equity is in the unpaid purchase price, and is treated as personalty; Bowne v. Ide , 109 Conn. 307 [ 147 A. 4 (1929)]; while the purchaser's interest is in the land and is treated as realty. 18 C.J.S. 49 [Conversion § 9].' Cooper v. Polayes , 19 Conn. Sup. 353 , 354-55 , 113 A.2d 599 (1955)." Society for Savings v. Bragg , 38 Conn. Sup. 8 , 13-14, 444 A.2d 919 (1981).

1997And most recently, in Pigeon v. Hatheway, 156 Conn. 175 , 176-77 , 239 A.2d 523 [1968], we allowed an executor to institute a suit under the theory that the cause of action was actually one to quiet title of personalty under the doctrine of equitable conversion, since the validity of an option to purchase real estate was being tested. "`Where, however, an executor seeks to institute and maintain an action to quiet title to real property without alleging and proving that the property is needed to settle claims against the estate, we do not think that the statutory requirement of interest in the

1997And most recently, in Pigeon v. Hatheway, 156 Conn. 175 , 176-77 , 239 A.2d 523 [1968], we allowed an executor to institute a suit under the theory that the cause of action was actually one to quiet title of personalty under the doctrine of equitable conversion, since the validity of an option to purchase real estate was being tested. "`Where, however, an executor seeks to institute and maintain an action to quiet title to real property without alleging and proving that the property is needed to settle claims against the estate, we do not think that the statutory requirement of interest in the

2016App. 167– 68. ‘‘A condition precedent is a fact or event which the parties intend must exist or take place before there is a right to performance.’’ Lach v. Cahill, 138 Conn. 418, 421 , 85 A.2d 481 (1951).

2016App. 167– 68. ‘‘A condition precedent is a fact or event which the parties intend must exist or take place before there is a right to performance.’’ Lach v. Cahill, 138 Conn. 418, 421 , 85 A.2d 481 (1951).

2016In accordance with this principle, the doctrine of equitable conversion does not apply when the seller’s duty to convey title is subject to a condition precedent.12 See In the Matter of Lefkas General Partners, 112 F.3d 896, 901 (7th Cir. 1997); In re Walston, supra, 190 B.R. 859 ; Noor v. Centreville Bank, supra, 193 Md.

2014Powell, Real Property (2007) § 81.03 [1], p. 81-85. ‘‘[A] contract involving a precondition such as adequate financing approval for the purchaser . . . is not a valid agreement until the precondition has been accom- plished.’’ Id., p. 81-86. ‘‘Whether [a party is] in fact equi- table owner of the [property] in question is . . . a conclusion of law’’; Francini v. Farmington, supra, 155 ; over which our review is plenary.

2003The plaintiff counters that partition is an equitable action and it is an equitable owner of the property pursuant to the option contract under the doctrine of equitable conversion. "[A]ny person holding real property as a joint tenant, tenant in common, coparcener or tenant in tail has a right to partition pursuant to § 52-495 ." Fernandes v. Rodriguez , 255 Conn. 47 , 56 , 761 A.2d 1283 (2000).

2003The plaintiff counters that partition is an equitable action and it is an equitable owner of the property pursuant to the option contract under the doctrine of equitable conversion. "[A]ny person holding real property as a joint tenant, tenant in common, coparcener or tenant in tail has a right to partition pursuant to § 52-495 ." Fernandes v. Rodriguez , 255 Conn. 47 , 56 , 761 A.2d 1283 (2000).

1996After an extensive discussion of the doctrine of equitable conversion, the court concluded that "[a] leasehold interest, although lienable and executory, has not been CT Page 4332-DDD successfully relied upon to sustain a mechanic's lien under the doctrine of equitable conversion." Id.

1992The vender's interest thereafter in equity is in the unpaid purchase price and is treated as personalty . . . while the purchaser's interest is in the land and is treated as realty." Other cases also holding that the seller's interest in the property sold is a lien in equity for the unpaid purchase price are Fidelity Trust Co. v. BVD Associates, 196 Conn. 270 , 282 ; Stone and Stone Pension Plan v. Alston, 12 Conn. App. 670 , 674 ; Cooper v. Polages, 19 Conn. Sup. 353 , 354 .

1954State v. Thresher, 77 Conn. 70, 81 , 58 A. 460 ; Pond v. Porter, 141 Conn. 56, 68 , 104 A.2d 228 .

1954State v. Thresher, 77 Conn. 70, 81 , 58 A. 460 ; Pond v. Porter, 141 Conn. 56, 68 , 104 A.2d 228 .

1954But that aside, the doctrine of equitable conversion “is not a fixed rule of law, but proceeds upon equitable principles which take into account the result which its application will accomplish.” Emery v. Cooley, 83 Conn. 235, 239 , 76 A. 529 ; Anderson v. Yaworski, 120 Conn. 390, 394 , 181 A. 205 .

1954But that aside, the doctrine of equitable conversion “is not a fixed rule of law, but proceeds upon equitable principles which take into account the result which its application will accomplish.” Emery v. Cooley, 83 Conn. 235, 239 , 76 A. 529 ; Anderson v. Yaworski, 120 Conn. 390, 394 , 181 A. 205 .

1954State v. Thresher, 77 Conn. 70, 81 , 58 A. 460 ; Pond v. Porter, 141 Conn. 56, 68 , 104 A.2d 228 .

1954State v. Thresher, 77 Conn. 70, 81 , 58 A. 460 ; Pond v. Porter, 141 Conn. 56, 68 , 104 A.2d 228 .