(a) A purchaser's lien is created for the amount of the deposit paid pursuant to and stated in a contract for the conveyance of land by the recording of such contract, or a notice thereof, in the records of the town in which the land is situated, provided the contract, or notice thereof, is executed by the owner and by the vendee of the land, witnessed and acknowledged in the same manner as required for a deed for the conveyance of land and describes the particular land to which it refers. Such purchaser's lien shall be prior to any other liens and encumbrances originating after the contract, or notice thereof, is recorded. A purchaser's lien may be foreclosed in the same manner as a mortgage. Transfer of title of the land to the vendee constitutes a release and discharge of the lien.
(b) Any notice recorded pursuant to this section shall, in addition to the requirements set forth in subsection (a) of this section, include (1) the address of the owner and the vendee, (2) the date provided in the contract for the performance of such contract or, if such date is not provided in such contract, the date on which such contract was executed, and (3) the amount of the deposit paid pursuant to the contract. Nothing in this subsection shall be construed to affect the validity of any purchaser's lien created before October 1, 2004.
(February, 1965, P.A. 272, S. 1; P.A. 79-602, S. 126; P.A. 04-132, S. 6.)
History: P.A. 79-602 restated provisions but made no substantive change; P.A. 04-132 designated existing provisions as Subsec. (a), adding references to notice of contract and making technical changes therein, and added Subsec. (b) re requirements for notice recorded pursuant to section.
Cited. 36 CA 206. Section circumscribes the common law equitable lien by subjecting it to the time limitations of Sec. 49-92c. 40 CA 64. Language of statute clearly expresses a derogation of the common-law right to an equitable lien on property and thus mechanisms specified in statute for creating a purchaser's lien on property replace procedures for creating an equitable lien on that property. 91 CA 442.
Cited. 38 CS 8.
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