Connecticut General Statutes 52-498 – Sale of land when trust cannot be executed
(a) If real property is held by a trustee under a trust created by deed or will and, by reason of a change of circumstances or in the condition of the real property since the creation of the trust, the execution of the trust in exact accordance with the terms of the deed or will has become impossible or would fail to secure the objects manifestly intended by the grantor or testator in the deed or will, the superior court for the judicial district in which the real property is situated may, on the complaint of the trustee or any party beneficially interested in the trust, order the sale of the real property, or any part thereof, and the investment of the proceeds, either in other real property or as trust funds generally may be by law invested for the benefit of the party beneficially interested in the trust, in such manner as the court deems the most suitable to secure the objects for which the trust was originally created, as nearly as may be, according to the intent of the original grantor or testator appearing in the original deed or will.
Terms Used In Connecticut General Statutes 52-498
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Grantor: The person who establishes a trust and places property into it.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Testator: A male person who leaves a will at death.
- Trustee: A person or institution holding and administering property in trust.
(b) All parties interested in the real property, by reason of the trust, or as reversioners, shall be made parties to any action brought under this section.