Rhode Island § 34-25.1-1 § 34-25.1-1. Reverse mortgages.

Rhode Island Statutes

§ 34-25.1-1 — § 34-25.1-1. Reverse mortgages.

Rhode Island § 34-25.1-1

Title 34Property

Ch. 34-25.1Reverse Mortgages

This text of Rhode Island § 34-25.1-1 (§ 34-25.1-1. Reverse mortgages.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 34-25.1-1 (2026).

Text

§ 34-25.1-1. Reverse mortgages.
Whenever a mortgage deed in statutory form or other form mortgaging real property
            is clearly entitled at the beginning thereof, reverse mortgage to secure present and
            future loans under chapter 25 of this title and in all other respects complies with
            the requirements of § 34-25.1-2, the mortgage deed shall be security from the time of its recording in the records
            for recording real estate mortgages in the city or town in which the real property
            mortgaged therein is located for all mortgage debt secured thereby at the time of
            recording and for all future advances secured thereby in an aggregate principal amount
       

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§ 34-25.1-1. Reverse mortgages.

Whenever a mortgage deed in statutory form or other form mortgaging real property is clearly entitled at the beginning thereof, reverse mortgage to secure present and future loans under chapter 25 of this title and in all other respects complies with the requirements of § 34-25.1-2, the mortgage deed shall be security from the time of its recording in the records for recording real estate mortgages in the city or town in which the real property mortgaged therein is located for all mortgage debt secured thereby at the time of recording and for all future advances secured thereby in an aggregate principal amount outstanding at any time not to exceed the stated amount of such mortgage deed, whether or not the future advances are agreed to be made at the time of recording such mortgage deed and whether or not the mortgages readvances principal sums repaid. The mortgage shall also be security for interest, taxes, insurance premiums, and such other obligations as are undertaken by the mortgagor in the mortgage deed or in the note or notes secured thereby, notwithstanding that interest, taxes, insurance premiums, and other obligations, when added to the total principal amount outstanding, at any time may cause the amount secured by the mortgage deed to exceed the stated maximum amount.