All liens and mortgages affecting real property may, on the written motion of any party to any suit relating thereto, be foreclosed (1) by a decree of sale instead of a strict foreclosure at the discretion of the court before which the foreclosure proceedings are pending, or (2) with respect to mortgages, as defined in section 49-24a, that are a first mortgage against the property, by a judgment of foreclosure by market sale upon the written motion of the mortgagee, as defined in section 49-24a, and with consent of the mortgagor, as defined in section 49-24a, in accordance with sections 49-24a to 49-24g, inclusive, and sections 49-26 to 49-28, inclusive.

(1949 Rev., S. 7205; P.A. 14-84, S. 1; 14-217, S. 207; P.A. 16-65, S. 83.)

History: P.A. 14-84 designated existing provision re decree of sale as Subdiv. (1) and added Subdiv. (2) re foreclosure by market sale; P.A. 14-217 changed effective date of P.A. 14-84, S. 1, from October 1, 2014, to January 1, 2015, effective June 13, 2014; P.A. 16-65 deleted reference to Sec. 49-31t and made a technical change.