Bank of America, N.A. v. Klein
232 Conn. App. 74
Conn. App. Ct.2025Background
- Bank of America, N.A. commenced a foreclosure action on a residential property owned by Samuel Klein in Greenwich, Connecticut.
- The trial court granted summary judgment as to liability for the bank, and later, following an evidentiary hearing, entered a judgment of foreclosure by sale.
- Multiple court-appointed appraisals placed the property’s value between $4.7 million and $6.1 million, though a court finding (based on defendant's testimony) at one point valued it at $8 million.
- At the committee sale, Bank of America submitted the sole and winning bid of $4,515,965.
- Klein objected to the court’s approval of the sale, arguing procedural deficiencies and the inadequacy of the sale price, but did not request a further evidentiary hearing.
- The trial court approved the committee sale and deed, and Klein appealed.
Issues
| Issue | Plaintiff's Argument | Defendant's Argument | Held |
|---|---|---|---|
| Sale approval without attached report | The committee later filed the report and it was available prior to opposition | Motion for approval lacked required attachments | Defendant’s claim deemed abandoned as inadequately briefed |
| Approval without evidentiary hearing | Defendant had prior chance to contest valuation and did not request new hearing | Was entitled to evidentiary hearing before approval | No abuse of discretion—no hearing was requested |
| Approval at price below appraised value | Sale reflected value of distressed property | Price was far below appraised value, creating large deficiency | Court has discretion to approve sale even below appraised value |
| Due process adequacy | Proper notice and opportunity to be heard were provided | Approval process violated due process | Due process satisfied; procedures were fair |
Key Cases Cited
- Ridgefield Bank v. Stones Trail, LLC, 95 Conn. App. 279 (2006) (trial court's equitable discretion in foreclosure sale approval)
- Northeast Savings, F.A. v. Hintlian, 241 Conn. 269 (1997) (party entitled to evidentiary hearing on valuation if properly requested)
- National City Real Estate Services, LLC v. Tuttle, 155 Conn. App. 290 (2015) (court may approve foreclosure sale below appraised value)