2005 Connecticut Code - Sec. 47-33a. Action on agreement to sell real estate.
Sec. 47-33a. Action on agreement to sell real estate. (a) No interest in real property existing under an executory agreement for the sale of real property or for the sale
of an interest in real property or under an option to purchase real property shall survive
longer than one year after the date provided in the agreement for the performance of it
or, if the date is not so provided, longer than eighteen months after the date on which
the agreement was executed, unless the interest is extended as provided herein or unless
action is commenced within the period to enforce the agreement and notice of lis pendens
is filed as directed by section 52-325.
(c) Nothing in this section shall be construed to limit or deny any legal or equitable rights a party may have under the agreement except the right to have the agreement specifically enforced.
(1959, P.A. 550; February, 1965, P.A. 401, S. 1; P.A. 79-602, S. 125.)
History: 1965 act applied Subsec. (a) provisions to options to purchase real property; P.A. 79-602 substituted "the" for "such" and "of it" for "thereof".
Cited. 174 C. 592, 597. Cited. 206 C. 454, 455. Cited. 213 C. 676, 677, 679. Cited. 216 C. 509-511. Cited. 220 C. 453, 454.
Cited. 6 CA 595, 602. Cited. 18 CA 569, 579, 580. Cited. 19 CA 413-416. Cited. 23 CA 579, 585. Cited. 40 CA 64, 65, 67, 70. Cited. 45 CA 466.
Option to purchase contained in commercial lease which must be exercised within leasehold term valid without regard to rule against perpetuities. 213 C. 676, 677, 679-683.
Cited. 40 CA 64, 65, 67. Cited. 45 CA 466. Death of grantor is a specific event that may act as the operative date where no date for exercising an option is otherwise provided. 57 CA 636.
Cited. 213 C. 676, 682.
Cited. 18 CA 569, 579. Cited. 45 CA 466.
Cited. 19 CA 413, 416. Cited. 45 CA 466.
Cited. 3 Conn. Cir. Ct. 86.
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