A mortgagor and a mortgagee may agree, by mutual consent, to pursue a foreclosure by market sale pursuant to sections 49-24b to 49-24g, inclusive. Nothing herein shall be construed as requiring either the mortgagor or mortgagee to pursue a foreclosure by market sale or to consider a foreclosure by market sale in foreclosure mediation. Failure of either party to consent to a foreclosure by market sale for any reason shall not be a basis for a claim of bad faith.
(P.A. 14-84, S. 3; 14-217, S. 207, 249; P.A. 16-65, S. 81.)
History: P.A. 14-217 changed effective date of P.A. 14-84, S. 3, from October 1, 2014, to January 1, 2015, effective June 13, 2014, and amended Subsec. (a) to change “October 1, 2014” to “January 1, 2015”, effective January 1, 2015; P.A. 16-65 replaced former provisions with provisions re agreement to pursue foreclosure by market sale.
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