Rhode Island General Laws 34-11-1.3. Name and address of mortgagor and mortgagee – Recording
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Every mortgage deed presented for record shall contain or have endorsed upon it the name and address of the mortgagor and mortgagee and the address shall be recorded as part of the mortgage deed. Failure to comply with this section shall not affect the validity of any mortgage deed, but the city or town clerk may charge an additional two dollars ($2.00) for a recording fee if the name and address does not appear on the instrument. The purpose of including the mortgagee’s address is to facilitate in the eventual discharge thereof, and also for purpose of any notice that may be sent to the mortgagor and mortgagee.
History of Section.
P.L. 1983, ch. 282, § 1; P.L. 1993, ch. 146, § 1.
Terms Used In Rhode Island General Laws 34-11-1.3
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
- town: may be construed to include city; the words "town council" include city council; the words "town clerk" include city clerk; the words "ward clerk" include clerk of election district; the words "town treasurer" include city treasurer; and the words "town sergeant" include city sergeant. See Rhode Island General Laws 43-3-9