Rhode Island § 34-25.1-15 § 34-25.1-15. Property held in name or trust.

Rhode Island Statutes

§ 34-25.1-15 — § 34-25.1-15. Property held in name or trust.

Rhode Island § 34-25.1-15

Title 34Property

Ch. 34-25.1Reverse Mortgages

This text of Rhode Island § 34-25.1-15 (§ 34-25.1-15. Property held in name or trust.) 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 § 34-25.1-15 (2026).

Text

§ 34-25.1-15. Property held in name or trust.
It is the intention of chapter 34-25.1 that the cash advances made under a reverse
            mortgage shall be made by the lender to the mortgagor. In the event that legal title
            to the property encumbered by a reverse mortgage is held in trust:
         
(1) The reverse mortgage proceeds may be received by the occupant of the property provided
            that the occupant is a beneficiary of the trust;
         
(2) References in subdivision 34-25.1-7(a)(5) to the mortgagor shall be deemed to refer to the occupant of the property provided
            that the occupant is a beneficiar

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§ 34-25.1-15. Property held in name or trust.

It is the intention of chapter 34-25.1 that the cash advances made under a reverse mortgage shall be made by the lender to the mortgagor. In the event that legal title to the property encumbered by a reverse mortgage is held in trust:

(1) The reverse mortgage proceeds may be received by the occupant of the property provided that the occupant is a beneficiary of the trust;

(2) References in subdivision 34-25.1-7(a)(5) to the mortgagor shall be deemed to refer to the occupant of the property provided that the occupant is a beneficiary of the trust;

(3) References in subdivision 34-25.1-7(s)(6) to absences from the home shall be deemed to refer to the occupant of the property provided that the occupant is a beneficiary of the trust.