Connecticut § 48-25 Installment payment of awards or sale price.

Connecticut Statutes

§ 48-25 — Installment payment of awards or sale price.

Connecticut § 48-25

Title 48Eminent Domain

This text of Connecticut § 48-25 (Installment payment of awards or sale price.) is published on Counsel Stack Legal Research, covering Connecticut primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Conn. Gen. Stat. § 48-25 (2026).

Text

When any property is taken in eminent domain proceedings under the authority of any general statute or special act or is voluntarily sold to any purchaser having such eminent domain power, the owner or owners of the equity in such property may elect, in writing, to accept payment of any damages finally determined as payable to such owner or owners, or of the sale price mutually agreed upon, in annual installments over such period as the owner or owners and the taker or purchaser may determine, provided such damages or sale price exceeds three thousand dollars and provided no interest shall be payable on the unpaid balance of any such damages or sale price. The taker or purchaser of such property shall execute a statement of indebtedness setting forth the time for payment which shall bear n

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When any property is taken in eminent domain proceedings under the authority of any general statute or special act or is voluntarily sold to any purchaser having such eminent domain power, the owner or owners of the equity in such property may elect, in writing, to accept payment of any damages finally determined as payable to such owner or owners, or of the sale price mutually agreed upon, in annual installments over such period as the owner or owners and the taker or purchaser may determine, provided such damages or sale price exceeds three thousand dollars and provided no interest shall be payable on the unpaid balance of any such damages or sale price. The taker or purchaser of such property shall execute a statement of indebtedness setting forth the time for payment which shall bear no interest to such owner or owners as evidence of its indebtedness.