2020 Rhode Island General Laws
Title 34 - Property
Chapter 34-11 Form and Effect of Conveyances
Section 34-11-21 Statutory mortgage condition.
§ 34-11-21. Statutory mortgage condition.
The following condition shall be known as the "statutory condition", and may be incorporated in any mortgage by reference:
Provided, nevertheless, and this conveyance is made upon the express condition, that if the mortgagor or his or her heirs, executors, administrators or assigns shall pay to the mortgagee or his or her heirs, executors, administrators, or assigns the principal and interest of that certain promissory note bearing even date with this deed and secured by this deed, and shall perform every other obligation secured by this deed, at the time provided in the promissory note or in this deed, and shall also pay all taxes and assessments of every kind levied or assessed upon or in respect of the mortgaged premises, then this deed, as also the promissory note, shall become and be absolutely void to all intents and purposes whatsoever.
History of Section.
(P.L. 1927, ch. 1056, § 13; G.L. 1938, ch. 436, § 12; G.L. 1956, § 34-11-21.)
