Sec. 45a-168. (Formerly Sec. 45-242). Mortgage of real property: Amount and interest rate. Liability of fiduciary. - Connecticut Statutes

      Sec. 45a-168. (Formerly Sec. 45-242). Mortgage of real property: Amount and interest rate. Liability of fiduciary. (a) An application to mortgage real property made under the provisions of sections 45a-164 to 45a-169, inclusive, and 45a-428 shall set forth the amount of money necessary to be raised and the purposes for which the money is required.

      (b) The order of the court upon the application to mortgage shall fix the amount for which the mortgage may be given and the rate of interest which may be paid thereon.

      (c) The note and mortgage legally executed by such conservator, guardian, administrator, executor, trustee or overseer shall bind the estate, but shall not bind such fiduciary individually.

      (1949 Rev., S. 7026; P.A. 80-476, S. 84.)

      History: P.A. 80-476 divided section into Subsecs., substituted "real property" for "real estate" and made other minor changes in wording; Sec. 45-242 transferred to Sec. 45a-168 in 1991.

      Annotation to former section 45-242:

      Former statute cited. 120 C. 671.