Connecticut § 47-303 Required ground lease provisions.

Connecticut Statutes

§ 47-303 — Required ground lease provisions.

Connecticut·Title 47 Land and Land Titles·Ch. 828a Community Land Trusts

A ground lease between a community land trust and a lessee shall include provisions designed to preserve long-term eligible housing on the land. Such provisions may include, but shall not be limited to, a first option to purchase and restrictions on the resale, subletting or assignment of improvements or portions thereof. Such provisions shall not be subject to any general statute or rule of law limiting the duration, degree or nature of restraints on real property, including, but not limited to, the common law rule against perpetuities, the uniform statutory rule against perpetuities and the rule against unreasonable restraints on alienation. See chapter 802c, part II, Secs. 45a-490 to 45a-496, inclusive, re uniform statutory rule against perpetuities.

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A ground lease between a community land trust and a lessee shall include provisions designed to preserve long-term eligible housing on the land. Such provisions may include, but shall not be limited to, a first option to purchase and restrictions on the resale, subletting or assignment of improvements or portions thereof. Such provisions shall not be subject to any general statute or rule of law limiting the duration, degree or nature of restraints on real property, including, but not limited to, the common law rule against perpetuities, the uniform statutory rule against perpetuities and the rule against unreasonable restraints on alienation. See chapter 802c, part II, Secs. 45a-490 to 45a-496, inclusive, re uniform statutory rule against perpetuities.

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