Chapter 352
2008 -- H 7469
SUBSTITUTE A AS AMENDED
Enacted 07/05/08
A N A C T
RELATING
TO PROPERTY -- MORTGAGE FORECLOSURE AND SALE
Introduced
By: Representatives Jackson, Lewiss, and O`Neill
Date
Introduced: February 13, 2008
It is enacted by the General Assembly as
follows:
SECTION 1. Section
34-27-4 of the General Laws in Chapter 34-27 entitled "Mortgage
Foreclosure and Sale" is hereby amended to
read as follows:
34-27-4.
Publication of notice under power of sale. -- (a) Whenever any real
estate
shall be sold under any power of sale mortgage
executed subsequent to May 4, 1911, and the
mortgage shall provide for the giving of notice
of the sale by publication in some public
newspaper at least once a week for three (3)
successive weeks before the sale, the first publication
of the notice shall be at least twenty-one (21)
days before the day of sale, including the day of the
first publication in the computation. The
sale may take place no more than fourteen (14) days
from the date on which the third successive
notice is published, including the day of the third
publication in the computation. Provided,
however, that if the sale is adjourned as provided in
Rhode Island general laws 34-11-22, and the
adjourned sale is held during the same calendar
week as the originally scheduled day of sale, no
additional advertising is required. Otherwise,
publication of the notice of the adjourned sale,
together with a notice of the adjournment or
adjournments, shall be continued at least once
each week commencing with the calendar week
following the originally scheduled day of sale;
the sale, as so adjourned, shall take place during
the same calendar week in which the last notice
of the adjourned sale is published, at least one
day after the date on which the last notice is
published.
(b) Provided,
however, that no notice shall be valid or effective unless the mortgagor has
been mailed written notice of the time and place
of sale by certified mail return receipt requested
at the address of the real estate and, if
different, at the mortgagor's address listed with the tax
assessor's office of the city or town where the
real estate is located or any other address
mortgagor designates by written notice to mortgagee
at his, her, or its last known address, at least
twenty (20) days for mortgagors other than
individual consumer mortgagors, and at least thirty
(30) days for individual consumer mortgagors,
days prior to the first publication, including the
day of mailing in the computation. The mortgagee
shall include in the foreclosure deed an
affidavit of compliance with this provision.
SECTION 2. This
act shall take effect upon passage.
=======
LC01788/SUB A
=======