§ 34-25-2. Priority of future loan mortgages over encumbrances not previously recorded.
The mortgage and the rights established therein shall, to the extent of the loans secured thereby, and interest, taxes, insurance premiums, and other obligations secured thereby, have full priority over all mortgages, liens and encumbrances which have not been recorded prior to such recording of the mortgage deed except as otherwise hereinafter provided.
(G.L. 1938, ch. 442, § 20; P.L. 1952, ch. 3018, § 1; G.L. 1956, § 34-25-2.)