Title 19
Financial Institutions

Chapter 9
Community Obligations and Banking Offenses

R.I. Gen. Laws § 19-9-5

§ 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.

History of Section.
P.L. 1995, ch. 82, § 47.