The proposed General Assembly Raised Bill No. 7064 seeks to amend Section 47-36aa of the general statutes to broaden the validation of real property instruments. The bill removes the limitation that only instruments recorded after January 1, 1997, are eligible for validation, allowing any recorded deed, mortgage, lease, power of attorney, release, assignment, or other instrument to be validated regardless of its recording date. New language is introduced to specify that recorded instruments with certain defects, such as defective acknowledgments or incorrect execution dates, will be considered valid unless a legal challenge is initiated within a specified timeframe. This change aims to streamline the validation process and enhance the security of property titles.

Additionally, the bill addresses the authority of fiduciaries in executing recorded instruments, requiring that such instruments reference the volume, page, and date of recording, as well as the authority under which they were executed. It establishes that if no legal action challenging the validity of the instrument is initiated and no notice of lis pendens is recorded within two years of its recording, the instrument will remain valid. The bill also clarifies that releases or assignments of mortgage interests executed by out-of-state fiduciaries will have the same legal effect as those executed by in-state fiduciaries, provided no contesting action is initiated within the same two-year period. The act is set to take effect on July 1, 2025, reflecting significant changes in the approach to validating real estate instruments.

Statutes affected:
Raised Bill: 47-36aa