Acts Affecting Housing and Real Estate
housing and real estate enacted during the 2019 regular session. OLR’s other Acts Affecting reports, including Acts Affecting Municipalities, are, or will soon be, available on OLR’s website:
Actived: 6 days ago
Real Estate Conveyance Tax
(1 days ago) The real estate conveyance tax has two parts: a state tax and a municipal tax. The applicable state and municipal rates are added together to get the total tax rate for a particular property conveyance. The combined rate is applied to the property’s sales price. The seller pays the tax
Statute of Limitations-Real Estate Sales
(7 days ago) A residential real estate purchaser who believes he has been harmed by the failure of the seller to disclose certain information about drainage and other water related problems should consult an experienced real estate attorney and provide the attorney with all relevant documents and a detailed explanation of the transaction. It is possible
LIFE ESTATES AND LIVING TRUSTS
(7 days ago) A life estate is an interest in real property with a duration measured by the life of a person or group of people. When that person or people die, the life estate is extinguished and the property automatically goes to the person or people who have a remainder interest in the property.
REAL ESTATE SALESPERSON AND BROKER LICENSURE …
(1 days ago) 3. Not have had a real estate license denied within one year or revoked within two years before applying 4. Pass written examination 5. Complete a minimum 90-hour real estate course approved by the state real estate commissioner Renewal Must complete 24 hours of CE each 24-month period of licensure (A.R.S. §§ 32-2124 & 32-2130)
Property Tax Exemptions for Non-Profits
(1 days ago) Real and personal property (“funds and estate”) Property must be held and invested for the use of said institutions To be exempt, the real estate may not generate an annual income of more than $6,000; the Connecticut Supreme Court has ruled that this income threshold applies only to real estate
PROPERTY TAX RELIEF FOR HOMEOWNERS
(7 days ago) Under the program, owners of residential property located in the state who are age 65 or older and are not dependents of other taxpayers may receive a refundable income credit equal to the amount by which real estate tax payments (or rent constituting real estate tax …
AGREEMENT TO SELL REAL ESTATE
(7 days ago) You asked for an analysis of Connecticut General Statute § 47-33a, Action on Agreement to Sell Real Estate, under the following scenarios: (1) as written, (2) with the clause “time is of the essence,” and (3) with and without a date to determine when the agreement first becomes invalid.
ACTS AFFECTING REAL ESTATE
(9 days ago) Real Estate Appraisers A new law makes several changes to the real estate appraiser and appraisal management company laws. Among other things, it requires real estate appraisal schools to be registered with the Connecticut Real Estate Appraisal Commission and their courses to be approved by the Department of Consumer Protection commissioner.
SALES AND USE TAX ON SERVICES
(1 days ago) Real estate management fees (rental agents) Real estate title search, appraisal, surveying, inspection, advertising services Residential rentals . Table 1 (continued) December 15, 2015 Page 8 of 13 2015-R-0261 TAXABLE SERVICES STATUTORILY-EXEMPT …
Corporate Headquarters Located in Connecticut
(1 days ago) Athena Real Estate LLC Danbury Real Estate Buyers & Brokers Atlantic Street Capital Management Stamford Venture Capital Companies Atlas Holdings LLC Greenwich Venture Capital Companies Avangrid Inc Orange Electric Companies Aviant Truck Ctr Inc Enfield Truck-Dealers Azelis Americas LLC Westport Chemicals-Retail
LIFE ESTATE OWNERS-UPKEEP OF PROPERTY
(9 days ago) A life estate is an interest in real property with a duration measured by the life of a person or group of people. When that person or people die, the life estate is extinguished and the property automatically goes to the person or people who have a remainder interest in the property.
SCOPE OF FREEDOM OF INFORMATION ACT
(7 days ago) Real estate transactions, as recorded on municipal land records, are generally available to the public. Recorded information typically includes the address and description of the property, current and previous owners, transaction dates, assessed property value, etc. However, certain transactions made by or for a public agency are exempt from
LOCAL ROAD ABANDONMENT AND ABUTTING PROPERTY OWNERS
(9 days ago) You asked what options an abutting property owner has when a town abandons a local road. You also wanted to know if the state, through the Department of Transportation (DOT) takes any position in these matters because of its provision of state funds through the town-aid highway program.
AN ACT CONCERNING THE RATE OF THE REAL ESTATE …
(2 days ago) state real estate conveyance tax at the following marginal rates: (1) 0.75% on the first $800,000 of the sales price, (2) 1.25% on any portion of the sales price that exceeds $800,000 and is less than or equal to $ 2.5 million, and (3) 2.25% on any portion of the sales price that exceeds $2.5 million.
AN ACT CONCERNING THE DURATION AND RELEASE OF …
(2 days ago) Connecticut estate tax could be assessed in connection with the decedent's estate. Under the bill, the petition must be filed with the Probate Court for the district in which the decedent last resided or, if the decedent died a nonresident of this state, for the district within which the real estate is situated. Petitioner’s Affidavit
VALUING RESIDENTIAL PROPERTY IN CONNECTICUT AND …
(7 days ago) Finding the ' full and fair cash value ' or ' market value ' of a property involves discovering what similar properties are selling for, what the property would cost today to replace and what financial factors, such as interest rates, may be affecting the real estate market.
ATTORNEYS AT REAL ESTATE CLOSINGS IN CONNECTICUT AND
(7 days ago) National Real Estate Information Services, Inc. (RE BA v. NREIS), 459 Mass. 512 (2011), the Massachusetts Supreme Judicial Court ruled that many of the activities involved in a real estate closing require the “substantive participation” of an attorney. The case effectively ended the practice of “witness-only” closings in the state.
LOCAL OPTION PROPERTY TAX RELIEF FOR SENIORS
(7 days ago) For the deferral program, participants can defer 100% of real estate tax, but cannot exceed $6,000 in any one tax year. A lien is placed on the property with interest. The Board of Finance annually determines the interest rate.  Manchester. Yes. $32,300 for singles and $39,500 for married persons
ACTS AFFECTING REAL ESTATE
(6 days ago) ACTS AFFECTING REAL ESTATE. REAL ESTATE. 2013-R-0303. Kevin E. McCarthy, Principal Analyst. July 29, 2013. NOTICE TO READERS. This report provides brief highlights of new laws affecting real estate enacted during the 2013 regular session. Each summary indicates the public act (PA) number and effective date. In some cases, these acts have other
AN ACT CONCERNING FORECLOSURE, ASSIGNMENT AND …
(2 days ago) 93 owner-occupied real estate, no such lien or liens may be foreclosed 94 unless the principal for all such liens upon such owner-occupied real 95 estate exceeds ten thousand dollars. 96 (b) (1) [Any] Except as provided in subdivision (2) of this subsection, 97 any municipality, by resolution of its legislative body, may assign, for
COMPARISON OF TAX RATES IN CONNECTICUT AND …
(7 days ago) Attachment 1 compares tax rates in Connecticut and Massachusetts for the following taxes: personal income, sales and use, corporation income, business entity, insurance premium, real estate conveyance, estate, gift, alcoholic beverages, cigarettes, tobacco products, and motor fuels. The table includes only the tax rate and basis for each tax.
Insurance and Real Estate Committee
(Just Now) an act concerning licensing requirements for real estate brokers, salespersons and teams. *hb06625: an act requiring the insurance commissioner to adopt regulations establishing continuing education requirements for public adjusters. *hb06626: an act concerning required health insurance coverage for breast health benefits. *sb00089
AN ACT CONCERNING THE DISCLOSURE OF NONMATERIAL …
(6 days ago) (b) No cause of action shall arise against an owner of real estate, [his or her,b>] the owner's agent or any agent of the transferee for the failure to disclose [to the transferee that the transferred property was psychologically impacted, as defined in section 20-329cc,b>] a nonmaterial fact concerning real property to the transferee.
AN ACT CONCERNING BROKER PRICE OPINIONS.
(Just Now) BPOs given by real estate licensees are permitted under federal law, and the costs for a BPO given by a real estate licensee can be significantly lower than the cost for an appraisal given by a licensed appraiser. Additionally, banks and mortgage servicers are required to meet internal due diligence and risk assessment requirements.
House List of Bills 2/4/2021
(2 days ago) INSURANCE AND REAL ESTATE . H - 4 H.B. No. 6394 (RAISED) PUBLIC SAFETY AND SECURITY. 'AN ACT CONCERNING INTEREST ON LOTTERY SALES AGENT DELINQUENCY ASSESSMENTS', to (1) specify that simple interest is charged on delinquency assessments of lottery sales agents, and (2) allow an agent whose delinquency assessment remains due and was subject to