CT REALTORS

Legislative Updates

Previous Legislation/Changes

Changes to Federal Lending Regulations

Changes to federal lending regulations (called TRID or “Know Before You Owe”) took effect on October 3, 2015 and are expected to have a significant effect on closing procedures when purchasing a home. Click here for a document that briefly explains the relevant information to help complete a smoother transaction.

Important Carbon Monoxide Detector News

The threat of Carbon Monoxide is real and as of January 1, 2014, Sellers of 1-2 family homes built prior to October 1, 2005 are required to furnish their purchasers with an affidavit that the property has working smoke and carbon monoxide detectors or to provide a credit. CTR has set up a page of information on the law and the changes. You can download the revised affidavit (effective July 1, 2014).