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Simsbury Bank & Trust Co. v. Ray Carlson Lumber Co.
Citations: 154 Conn. 216; 224 A.2d 544; 1966 Conn. LEXIS 444
Court: Supreme Court of Connecticut; November 10, 1966; Connecticut; State Supreme Court
In the case of The Simsbury Bank and Trust Company v. The Ray Carlson Lumber Company, the Supreme Court of Connecticut addressed an appeal from a mortgage foreclosure action. The plaintiff obtained a strict foreclosure judgment on April 29, 1965, with the final redemption date set for June 22, 1965. After none of the defendants redeemed, the plaintiff gained absolute title to the property on June 23, 1965, and subsequently sold it on August 27, 1965, incurring a net loss of $14,413.68. On September 10, 1965, the plaintiff sought a deficiency judgment but had not previously moved for the appointment of appraisers as required by General Statutes § 49-14. This statute mandates the court to appoint three appraisers to evaluate the property within ten days after the redemption period ends, with the court able to issue a deficiency judgment based on their appraisal within ninety days. The court emphasized that strict compliance with these provisions is necessary and that any deviation could lead to significant issues. The plaintiff argued that recent legislative changes in 1957, which altered the process for obtaining deficiency judgments, rendered the appraisal requirement optional. However, the court found no basis in the statute or its legislative history to support this claim, asserting that the requirements for appraisal remain mandatory. Consequently, since the plaintiff failed to comply with the appraisal provisions, the court denied the deficiency judgment motion. The ruling was upheld without error, with concurrence from the other judges.