Chapter 369
2008 -- S 2325
Enacted 07/08/08
A N A C T
RELATING
TO PROPERTY -- MORTGAGE FORECLOSURE AND SALE
Introduced
By: Senator Michael J. McCaffrey
Date
Introduced: February 07, 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.,
and the third publication of the notice shall be no fewer than
seven (7) days before the original date of sale
listed in the advertisement and no more than
fourteen (14) days before the original date of
sale listed in the advertisement.
(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.
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LC01474
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