Connecticut law requires that attorneys handle real estate closings involving title insurance, which is commonly required when a buyer is borrowing money from a lender to purchase property. By prohibiting non-attorneys from handling most types of real estate transactions, Public Act No. 19-88, adopted in 2019, provides safeguards that codify what was already common practice. […]
A revision to Connecticut General Statute Section 29-453 that took effect Oct. 1 eliminates the ability of those selling and transferring residential properties in Connecticut to give the new owners a $250 credit rather than providing a signed affidavit attesting to the presence of smoke and carbon monoxide detectors. This is a significant change to
The real estate scam in which imposters fraudulently sell vacant land free of mortgage liens out from under the true owners was attempted recently in Danbury and Goshen. Retained to handle what appeared to be legitimate transactions, Cramer & Anderson’s highly experienced real estate attorneys, including Partner Neal White, determined that imposters were claiming to
National Estate Planning Awareness Week, Oct. 17-23 this year, was adopted by the U.S. House of Representatives in 2008 as a way to highlight the importance of estate planning for individuals, families, and business owners. While it’s often noted that more than 50 percent of adult Americans don’t have an estate plan, one new survey
The Caring.com 2021 Wills and Estate Planning Study documented a trend familiar to Trust & Estate attorneys: Younger adults are embracing the wisdom of making a will and engaging in estate planning amid fears and uncertainty created by COVID-19. The study revealed that younger adults are 63 percent more likely to have a will than
Savvy thieves are able to forge documents, commit fraud, and steal the title/deed to your home, potentially to sell the property to someone else and reap the proceeds, or use their fraudulent ownership to access a lending tool and extract the home’s equity. Such an occurrence is extremely unlikely, as it would be difficult to
UPDATE: A General Assembly Finance Committee public hearing on the proposed new “mansion tax,” set forth in Senate Bill No. 171, is scheduled to be held via Zoom on Monday, March 15. Sign up here to offer testimony or comments. The hearing, beginning at 9 a.m., may be be viewed on YouTube. The odds are
Connecticut Gov. Ned Lamont has issued and updated enough Executive Orders (EOs) in response to the COVID-19 pandemic that individuals may find it difficult to easily access information affecting businesses, changes in government services and requirements, and issues with legal implications. For example, on Feb. 5, the Governor re-tweeted posts from Connecticut Senate Democrats announcing
The Internal Revenue Service is highlighting a special new provision that allows taxpayers to deduct up to $300 in donations to qualifying charities made before December 31, 2020. Even those who don’t itemize will be able to easily take the deduction when filing their taxes in 2021. The measure is among the temporary tax changes
The federal Achieving a Better Life Experience (ABLE) Act, which helps those with disabilities create savings or investment accounts to pay for qualifying expenses tax free, is finally up and running in Connecticut. The ABLE Act was signed into law in 2014, and Connecticut Public Act 15-80 was passed in 2015 to implement the law by
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