Title 44
Taxation

Chapter 5
Levy and Assessment of Local Taxes

R.I. Gen. Laws § 44-5-73

§ 44-5-73. Authority granted to city and town collectors to sell, assign and transfer tax liens and tax titles in bulk.

(a) Notwithstanding any of the provisions of chapter 9 of this title, any city or town may by resolution of its legislative body authorize its collector to sell and assign for consideration to the Rhode Island housing and mortgage finance corporation pursuant to § 44-9-8.3 of the general laws, any and all liens for taxes assessed against any owner-occupied residential property of three (3) units or less on real estate as constituted pursuant to § 44-9-1 together with the right to receive the taxes, penalties, and other charges secured by the lien, and to sell and assign any real estate liable for overdue taxes and deliver a collector’s deed granting tax title thereto, and to sell and assign any other tax titles on owner-occupied residential property of three (3) units or less previously acquired by the city or town. Sections 44-9-8 and 44-9-9 of the general laws shall not apply to the sale, assignment and transfer of real estate liable for overdue taxes pursuant to § 44-5-73.

(b) The cities and towns may make regulations for the possession, management and sale or assignment, either individually or in bulk, of land purchased or taken for taxes, not inconsistent with law or the right of redemption.

(c) The minimum sum paid for the assignment of any tax lien may not be less than the tax due, plus accrued interest and expenses of collection or at a rate which may be discounted to reflect uncollectible factors.

(d) The collector of any city or town holding a tax title may assign and transfer the tax title, individually or in bulk, with other tax titles, either by public auction to the highest bidder or by direct sale.

(e) After complying with the provisions of § 44-9-8.3, the minimum sum paid for the assignment of a tax title may not be less than the total amount necessary for the redemption of each individual tax title sold and assigned or at a rate which may be discounted to reflect uncollectable factors.

(f) The collector may execute and deliver on behalf of the city or town any instrument necessary in connection with the sale and assignment of the tax liens or tax titles, including, but not limited to, purchase and sale agreements, servicing agreements and trust agreements and accept on behalf of the city or town appropriate consideration pursuant to the regulations.

(g) The assignee of the liens or tax titles shall have and possess the same powers and rights at law and in equity as the city or town collector would have if the lien had not been assigned with regard to the collection of taxes, the precedence and priority of the lien, the accrual of interest and the fees and expenses of collections and the exemption from liability for enforcement or penalties arising from violations of environmental or minimum housing standards.

(h) The assignee has the same rights to enforce the liens as any private party holding a lien on real property.

History of Section.
P.L. 1998, ch. 236, § 1; P.L. 2006, ch. 534, § 1; P.L. 2006, ch. 537, § 1.