Rhode Island § 19-9-5 § 19-9-5. Mortgagor to be offered title insurance.

Rhode Island Statutes

§ 19-9-5 — § 19-9-5. Mortgagor to be offered title insurance.

Rhode Island·Title 19 Financial institutions·Ch. 19-9 Community Obligations and Banking Offenses

§ 19-9-5. Mortgagor to be offered title insurance.
Every lending institution that accepts an application for a mortgage loan on property
            located in this state and that engages a title attorney to search the title of the
            subject real estate shall require the attorney to offer to the prospective mortgagor,
            at the usual premium rate, an owner's policy title for the real estate. In the event
            the prospective mortgagor does not wish to purchase this title insurance, then the
            prospective mortgagor shall have the right to reject the offer of title insurance,
            provided the rejection is in writing and signed.
         

Free access — add to your briefcase to read the full text and ask questions with AI

§ 19-9-5. Mortgagor to be offered title insurance.

Every lending institution that accepts an application for a mortgage loan on property located in this state and that engages a title attorney to search the title of the subject real estate shall require the attorney to offer to the prospective mortgagor, at the usual premium rate, an owner's policy title for the real estate. In the event the prospective mortgagor does not wish to purchase this title insurance, then the prospective mortgagor shall have the right to reject the offer of title insurance, provided the rejection is in writing and signed.

Rhode Island § 19-9-5 (§ 19-9-5. Mortgagor to be offered title insurance.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.