Justia Connecticut Supreme Court Opinion Summaries

This case concerned the distribution of surplus proceeds from a foreclosure sale of property encumbered by multiple successive mortgages obtained through fraud. Defendant Stewart Title Guaranty Company appealed from the judgment of the trial court rendered in favor of Defendant First American Title Insurance Company and ordering that the remaining proceeds of a foreclosure sale be distributed to First American. The Supreme Court affirmed, holding (1) the trial court properly granted First American's motion to intervene in the action, (2) the trial court applied a proper standard of review in granting relief pursuant to First American's motion to reargue the trial court's decision determining the priorities of the parties; and (3) the trial court's conclusion that First American was entitled to receive all of the remaining funds from the foreclosure sale could be upheld on the alternate ground that, because First American's mortgage was recorded prior in time to Stewart Title's mortgage, it was entitled to all of the surplus proceeds on deposit pursuant to the first in time, first in right rule. View "Hudson Valley Bank v. Kissel" on Justia Law

Plaintiff HVC Inc. was a trustee of the Honda Lease Trust. During the audit period at issue, several car dealerships entered into thousands of leases with customers (lessees) pursuant to lease plan agreements between the dealerships, the trust, and the servicer of the trust. Under the leases, the lessees were responsible for submitting the vehicle registration renewal application and renewal fees to the department of motor vehicles on behalf of the trust. Upon receipt of the renewal application and fee, the department sent the vehicle registration card to the trust, and the trust forwarded the vehicle registration card to the appropriate lessee. After conducting a sales and use tax audit for the audit period from April 1, 2001 through October 31, 2004, Defendant Pamela Law, the then commissioner of revenue services, issued a deficiency assessment against Plaintiff, concluding that the renewal fees constituted taxable gross receipts of the trust and, therefore, were subject to the sales tax. The trial court rendered summary judgment partially in favor of Defendant. The Supreme Court affirmed, holding that the renewal fees paid by the lessess qualified as Plaintiff's gross receipts subject to sales tax under Conn. Gen. Stat. 12-408(1). View "HVT, Inc. v. Law" on Justia Law