Scott Investment Properties LLC v. Olympicorp International LLC
A court may declare that a mortgage is not valid, as a lien against property, pursuant to Connecticut General Statutes §49-13. The plaintiff, Scott Investment Properties LLC, requested a declaratory judgment that a mortgage lien was not valid, pursuant to Connecticut General Statutes §49-13. The defendant, Olympicorp International LLC, was defaulted for failure to appear. Olympicorp International LLC's interest in the promissory note, which was secured by an October 1999 mortgage, was to be paid, on or before Nov. 1, 2000. Scott Investment Properties, as the successor to the mortgagor, has enjoyed the possession of the subject property, undisturbed, for at least six years after the expiration of the time for payment of the promissory note. The statute provides, "When the record title to real property is encumbered (1) by any undischarged mortgage, and (A) the mortgagor or those owning the mortgagor's interest therein have been in undisturbed possession of the property for at least six years after the expiration of the time limited in the mortgage for the full performance of the conditions thereof, and for six years next preceding the commencement of any action under this section . . . the person owning the property, or the equity in the property, may bring a petition to the superior court . . . claiming a judgment." The court declared that the October 1999 mortgage was not valid, as a lien against the subject property, pursuant to C.G.S. §49-13.