The proceeds of each such sale shall be brought into court, there to be applied if the sale is ratified, in accordance with the provisions of a supplemental judgment then to be rendered in the cause, specifying the parties who are entitled to the same and the amount to which each is entitled. If any part of the debt or obligation secured by the mortgage or lien foreclosed or by any subsequent mortgage or lien was not payable at the date of the judgment of foreclosure, it shall nevertheless be paid as far as may be out of the proceeds of the sale as if due and payable, with rebate of interest where the debt was payable without interest, provided, if the plaintiff is the purchaser at any such sale, he shall be required to bring into court only so much of the proceeds as exceed the amount due upon his judgment debt, interest and costs. In the case of a foreclosure by market sale, the person appointed to make the sale shall bring the proceeds of the market sale into court.
(1949 Rev., S. 7208; P.A. 79-602, S. 83; P.A. 14-84, S. 10; 14-217, S. 207.)
History: P.A. 79-602 made minor changes in wording but made no substantive changes; P.A. 14-84 added provision re proceeds of the market sale in foreclosure by market sale; P.A. 14-217 changed effective date of P.A. 14-84, S. 10, from October 1, 2014, to January 1, 2015, effective June 13, 2014.
Procedure. 98 C. 154. Rights of parties to fund realized from sale should be determined by a supplementary judgment. 103 C. 744. Cited. 120 C. 671. The decree of foreclosure by sale should not adjudicate the rights of the parties to the funds realized; those rights should be determined by way of supplemental judgment. 142 C. 200. On sale of four mortgaged parcels as one tract, after satisfying first mortgage debt, proceeds remaining were apportioned between second mortgagees according to the respective values of their securities and not according to a rule of priority in time. 153 C. 267. Cited. 166 C. 195; 195 C. 418; 219 C. 620; 235 C. 741.
Cited. 27 CA 549. Court's order with respect to funds from foreclosure sale was not a garnishment of funds held by court clerk and court had authority to order the clerk to hold rather than to distribute the funds pending the outcome of appeal. 87 CA 321.
Claim of mechanic's lienor which has not expired at time of mortgage sale is transferred to proceeds of sale. 20 CS 460.
Notes of Decisions
Cited in
15
cases (
1 in the last 5 years), 1974–2021 · leading case:
Saunders v. KDFBS, LLC, 335 Conn. 586 (Conn. 2020).
Saunders v. KDFBS, LLC, 335 Conn. 586 (Conn. 2020).
· cites it 6× “2d 797 (2006); see also General Statutes § 49-27. ‘‘[T]he rights of the mortgagor [or debtor] in the .”
Town of Voluntown v. Rytman, 607 A.2d 896 (Conn. App. Ct. 1992).
· cites it 4× “” Those sections require the plaintiff *556 to allege the mere existence of other encumbrances, but they do not require the plaintiff to prove the validity of each such other encumbrance in order to entitle it to a judgment of foreclosure.”
New England Sav. Bank v. Lopez, 630 A.2d 1010 (Conn. 1993).
· cites it 2× “Indeed, the mortgagee, if the successful bidder, is only required to pay to the court “so much of the proceeds as exceed the amount due upon his judgment debt, interest and costs”; General Statutes § 49-27; and is usually excused by the court’s order of sale from the deposit…”
Nat'l City Mortg. Co. v. Stoecker, 888 A.2d 95 (Conn. App. Ct. 2006).
· cites it 2× “Pursuant to General Statutes § 49-27, if the plaintiff has bid an amount in excess of its debt, interest, attorney’s fees and costs, including the expenses of the sale, the excess must be paid into court.”
Union Trust Co. v. Heggelund, 594 A.2d 464 (Conn. 1991).
· cites it 2× “Furthermore, the rights of an intervening lien creditor do not depend on a factual showing of reliance, either under the relevant statute; General Statutes § 49-27; or the relevant cases.”
Tadros v. Tripodi, 866 A.2d 610 (Conn. App. Ct. 2005).
· cites it 4× “See General Statutes § 49-27. 12 “[T]he sovereign immunity doctrine rests .”
Toro Credit Co. v. Zeytoonjian, 341 Conn. 316 (Conn. 2021).
· cites it 4× “Instead, any additional proceeds of the sale of both parcels above the total amount of the judgment and costs of sale would be returned to the defendants; see General Statutes § 49-27;8 and further eliminates the defendants’ concern about a potential deficiency judgment.”
In Re Rubenstein, 105 B.R. 198 (Bankr. D. Conn. 1989).
· cites it 2× “Conn.Gen.Stat.Ann. § 49-27 (West Supp.1989).”
Moran v. Morneau, 19 A.3d 268 (Conn. App. Ct. 2011).
· cites it 2× “8 General Statutes § 49-27 provides in relevant part: “The proceeds of each such sale shall be brought into court, there to be applied if the sale is ratified, in accordance with the provisions of a supplemental judgment then to be rendered in the cause, specifying the parties…”
In Re Danise, 112 B.R. 492 (Bankr. D. Conn. 1990).
· cites it 2× “Conn. Gen.Stat.Ann. § 49-27 (West Supp.1989).”
Matter of Valente, 34 B.R. 804 (Bankr. D. Conn. 1982).
· cites it 2× “The fact that under Connecticut procedure there may be supplemental judgments in foreclosure by sale proceedings, Conn.Gen.Stat. § 49-27 (1981), or that judgments of strict foreclosure may be reopened, Conn.”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.