Connecticut § 49-5b Required information in a mortgage contingency clause.

Connecticut Statutes

§ 49-5b — Required information in a mortgage contingency clause.

Connecticut § 49-5b

Title 49Mortgages and Liens

Ch. 846Mortgages

This text of Connecticut § 49-5b (Required information in a mortgage contingency clause.) 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. § 49-5b (2026).

Text

Any mortgage contingency clause included in a bond for deed or a written agreement for sale of real estate which conditions the purchaser's performance on his obtaining a mortgage from a third party shall satisfy the provisions of section 52-550 if such mortgage contingency clause contains at least the following:

(1)The principal amount in dollars of the loan the purchaser must obtain to fulfill such contingency;

(2)the limit of the time period within which a commitment for such loan must be obtained, and (3) the term of the mortgage expressed in years.

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Any mortgage contingency clause included in a bond for deed or a written agreement for sale of real estate which conditions the purchaser's performance on his obtaining a mortgage from a third party shall satisfy the provisions of section 52-550 if such mortgage contingency clause contains at least the following: (1) The principal amount in dollars of the loan the purchaser must obtain to fulfill such contingency; (2) the limit of the time period within which a commitment for such loan must be obtained, and (3) the term of the mortgage expressed in years.