Norwich

Judicial

In a judicial foreclosure state, the lender must go through the court system in order to foreclose on a property. This process can be longer and more expensive for the lender compared to a non-judicial foreclosure.

Attorneys normally conduct closings. Most often conveyance is by warranty deed, but quitclaim deeds do appear. Mortgages are the security instruments. Judicial foreclosures are the rule, either by a suit in equity for strict foreclosure or by a court decree of sale. Court decreed sales preclude redemption, but strict foreclosures allow redemption for 3-6 months, depending upon the discretion of the court. There are lender’s and owner’s title insurance policies available with various endorsements. Buyers customarily pay for examination and title insurance, while sellers pay the documentary and conveyance taxes. Property tax payment dates vary by town.

Property tax payment dates vary by town

YES. Key components of property management are considered a real estate activity under existing Connecticut real estate licensing laws. A broker's license is required for any person or company that, for compensation, rents or offers or attempts to negotiate the rental of an estate or interest in real estate, or collects or offers or attempts to collect rent for the use of real estate. A salesperson working under a broker may engage in such activities.

YES. For example, on-site managers who are employees of the owner are exempt if they do not engage in specified activities. For more information about these and other Connecticut property management requirements and exceptions, please contact the Connecticut Department of Consumer Protection. Before hiring a property manager to manage your Connecticut rental property, you should always check that he or she is licensed appropriately. You can check the license status of Connecticut property managers at the State of Connecticutâ??s eLicensing website.

There is no requirement that a community or condo association manager in Connecticut hold a real estate broker's license. However, community association managers must register with the state. A "community association manager" is someone who provides association management services, which include collecting, controlling or disbursing funds of the association or having the authority to do so, preparing budgets or other financial documents for the association, assisting in the conduct of or conducting association meetings, advising or assisting the association in obtaining insurance, coordinating or supervising the overall operations of the association, or advising the association on the overall operations of the association. Directors, officers or members of the association are not required to meet this requirement.

Connecticut real estate broker licensing requirements include: - Age: must be at least 18 years of age - Education: 60 classroom hours - Principles and Practices of Real Estate; 30 classroom hours - Appraisal I; 30 classroom hours - Elective real estate related course - Experience: Two years licensed real estate experience - Exam: Successful completion of broker's exam - Trustworthiness: Licenses are granted only to persons who "bear a good reputation for honesty, truthfulness and fair dealing..." NOTE: Applications are valid for one year.

Connecticut real estate salesperson license requirements include: - Age: must be at least 18 years of age - Education: 60 classroom hours (Real Estate Principles and Practices) at an approved institution - Exam: Successful completion of salesperson's exam - Trustworthiness: Licenses are granted only to persons who "bear a good reputation for honesty, truthfulness and fair dealing..." NOTE: Applications are valid for one year.