2009 Rhode Island Code
Title 34 - Property
CHAPTER 34-26 - Redemption, Release, and Transfer of Mortgages
§ 34-26-7 - Certain ancient mortgages becoming void unless continued.

SECTION 34-26-7

   § 34-26-7  Certain ancient mortgages becoming void unless continued. – On and after January 1, 1989, no power of sale in any mortgage of real estate, except mortgages made by public utilities, then or thereafter of record shall be exercised and no entry shall be made nor possession taken nor proceeding begun for foreclosure of any such mortgage after the expiration of a period which shall be fifty (50) years from the date of recording of the mortgage unless an extension of the mortgage, or an acknowledgment by affidavit that the mortgage is not satisfied, is recorded within the last ten (10) years of that period. In case an extension of the mortgage or such an acknowledgment by affidavit is so recorded, the period shall continue until ten (10) years shall have elapsed during which there is not recorded any further extension of the mortgage or acknowledgment or affidavit that the mortgage is not satisfied. The period shall not be extended by reason of a longer duration of the debt or the obligation secured being stated in the mortgage or in any extension of the mortgage, or otherwise, or by nonresidence or disability of any person interested in the mortgage or the real estate, or by any partial payment, agreement, extension, acknowledgment, affidavit or other action not meeting the requirements of this section. All extensions, agreements, affidavits and acknowledgments shall be indexed in the land evidence records under the name of the present landowner.