Skip to main content
DRAFT FOR ATTORNEY REVIEW — NOT FINAL

Section 34-11-22

Citation
Section 34-11-22
Parent Document
Foley v. Osborne Court Condominium, 96-360 (1999) (1999)
Jurisdiction
Rhode Island (state)
Effective Date
1999-07-26

Full Text

518 chars
A more significant difference between the statutory power of sale and the 1982 Act relates to the nature of the charges that constitute the basis for the foreclosure and sale. The default referred to in the statutory power of sale refers to the failure of a mortgagor to perform obligations with respect to the secured property and under the promissory note. It does not arise out of the imposition of fines. The mortgagor's obligations can be compared to the obligation of a condominium owner to pay common area fees.