Leone v. Bivans, No. 372827 (Jul. 2, 1991) , 1991 Conn. Super. Ct. 6263 ( 1991 )


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  • [EDITOR'S NOTE: This case is unpublished as indicated by the issuing court.] MEMORANDUM OF DECISION In this proceeding in which plaintiff moves for a deficiency judgment after the law day passed in a strict foreclosure and defendant failed to redeem so that title vested in the plaintiff on November 20, 1990, the court finds as follows:

    1. The amount due plaintiff on the original judgment of 10/15/90 $ 149,558.87

    2. Attorney's fees allowed 3,000.00

    3. Interest from date of judgment to vesting of title 1,462.65 ------------ $ 154,021.52

    4. Less rents collected by plaintiff before title vested in plaintiff — 8,112.00

    5. Total judgment debt less rents collected

    6. Value or property calculated as follows:

    a. Income P Package store $966 mo. $ 11,592 Apt. 1 $ 620 mo. 7,440 Apt. 2 $ 580 mo. 6,960 Vacant office 2,400 -------- Total economic rent $ 28,392 Less allowance for vacancy at 5% 1,419 -------- Effective gross income $ 26,973.00

    b. Expenses Taxes $ 2,654 CT Page 6264 Insurance 1,400 Electric and gas 1,500 Repairs and maintenance 2,000 Management 500 Miscellaneous 500 -------- Total expenses 8,554.00 -----------

    c. Net income $ 18,419.00

    d. Capitalization rate 12.8%

    e. Property value ($18,419 x 12.8%) $ 143,898.00

    f. Deficiency amount ($ 145,909 — $ 143,898) $ 2,011.00

    g. Interest on deficiency amount at 10% from 11/20/98 — 6/26/91 219 days at .55 121.00

    h. Additional attorney's fees 400.00

    i. Costs on original judgment 651.00

    j. Additional Appraiser's fees 350.00

    k. Deficiency judgment $ 3,533.00

    Deficiency judgment of $ 3,533 may enter in favor of plaintiff.

    SATTER, J.

Document Info

Docket Number: No. 372827

Citation Numbers: 1991 Conn. Super. Ct. 6263

Judges: SATTER, J.

Filed Date: 7/2/1991

Precedential Status: Non-Precedential

Modified Date: 7/5/2016