When any property is taken in eminent domain proceedings under the authority of any general statute or special act or is voluntarily sold to any purchaser having such eminent domain power, the owner or owners of the equity in such property may elect, in writing, to accept payment of any damages finally determined as payable to such owner or owners, or of the sale price mutually agreed upon, in annual installments over such period as the owner or owners and the taker or purchaser may determine, provided such damages or sale price exceeds three thousand dollars and provided no interest shall be payable on the unpaid balance of any such damages or sale price. The taker or purchaser of such property shall execute a statement of indebtedness setting forth the time for payment which shall bear no interest to such owner or owners as evidence of its indebtedness.
(1961, P.A. 290.)
Structure Connecticut General Statutes
Section 48-2. - When counties may take land.
Section 48-3. - Town may take land for town house or town hall.
Section 48-4. - Taking land for school purposes; exception.
Section 48-5. - Powers of towns in taking land for school purposes.
Section 48-7. - Town, borough or fire district may condemn land for square, common or park.
Section 48-8. - Town may condemn land for records building.
Section 48-9. - Condemnation of land and water for state institutions and courthouses.
Section 48-10. - Damages to be determined by state referee.
Section 48-11. - Deposit in court pending determination of amount to be paid.
Section 48-12. - Procedure for condemning land.
Section 48-13. - Inspection and testing prior to condemnation.
Section 48-14. - Value of crops included in damage computation.
Section 48-14a. - Apportionment of taxes.
Section 48-15. - Valuation of flood-damaged property.
Section 48-16. - Possession of property pending condemnation proceedings.
Section 48-17. - Payment for property taken by condemnation by the state.
Section 48-17b. - Inverse condemnation. Plaintiff's award.
Section 48-17c. - Payment of award.
Section 48-17d. - Environmental remediation costs.
Section 48-18. - Mode of taking land to enlarge cemetery.
Section 48-20. - Condemnation of land of incapable person.
Section 48-22. - Joint assessments for particular and remainder estates.
Section 48-23. - Obtaining possession of land acquired by eminent domain.
Section 48-25. - Installment payment of awards or sale price.
Section 48-26. - Condemnor to pay appraisal fees and fees of experts, when.
Section 48-27. - State referee approval of certain negotiated condemnations.