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Rhode Island · Through site files published 2025-08-13 · Newer source version available

R.I. Gen. Laws § 45-27-15: Subordination of mortgage to government contract.

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Where this section sits in the code
  1. Title 45 Towns and Cities
  2. Chapter 27 Housing Authority Bonds and Obligations

The authority may agree in any mortgage made by it that the mortgage is subordinate to a contract for the supervision by a government of the operation and maintenance of the mortgaged property and the construction of improvements on it. In that event, any purchaser or purchasers at a sale of the property of an authority, pursuant to a foreclosure of the mortgage or any other remedy in connection with it, obtains title subject to the contract.

Collected 2026-09-05T20:00:51Z. Source file · JSON

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