Mortgages of Real Property

SECTION 34-23-2

§ 34-23-2. Redemption right of mortgagor or vendor with defeasance.

All real estates, conveyed or pledged by mortgage or deed of bargain and sale with defeasance, shall be redeemable by the mortgagor or vendor, his or her heirs, executors, administrators, successors, or assigns, on paying the money borrowed thereon, with interest, or by performing the condition on which the real estate was conveyed or mortgaged, deducting the rents and profits which the mortgagee, or any under him or her, may have received over and above the taxes and assessments paid out, and suitable repairs and insurance made by him, her, or them, and all other necessary expenses in the care and management of the premises.

History of Section.
(G.L. 1896, ch. 207, § 2; G.L. 1909, ch. 258, § 2; G.L. 1923, ch. 302, § 2; G.L. 1938, ch. 442, § 2; G.L. 1956, § 34-23-2.)