§ 33-18-15. Exercise of power of sale in mortgage.
In case of a mortgage containing powers of sale, the executor, administrator, or guardian of the estate for the time being of the mortgagee may, on default, unless provisions to the contrary be made in the mortgage, exercise the enumerated powers of sale. The executor, administrator, or guardian may, if empowered by the mortgage or by law, and if in his or her discretion it is necessary to prevent a sacrifice of the property, bid upon and buy in the mortgaged property at the sale; and having so purchased, may, on application to the probate court, be authorized to resell the property at public or private sale pursuant to the direction of the court, and convey, without being accountable for any resulting loss. The proceeds of the sale shall be personal property.
History of Section.C.P.A. 1905, § 880; G.L. 1909, ch. 313, § 15; G.L. 1923, ch. 364, § 15; G.L. 1938, ch. 577, § 15; G.L. 1956, § 33-18-15.
Structure Rhode Island General Laws
Title 33 - Probate Practice and Procedure
Chapter 33-18 - Decedents’ and Incompetents’ Estates Generally
Section 33-18-1. - Publication of qualification of fiduciary — Statement filed by clerk.
Section 33-18-2. - General grounds for removal of fiduciary.
Section 33-18-3. - Citation in action to remove fiduciary.
Section 33-18-4. - Resignation of fiduciary.
Section 33-18-5. - Appointment of new fiduciary — Powers of survivors — New bond.
Section 33-18-6. - Transfer of records and property to successor fiduciary — Action on bond.
Section 33-18-7. - Continuation of actions by or against successor fiduciary.
Section 33-18-8. - Judgment against fiduciary in continuation of action by or against decedent.
Section 33-18-9. - Appointment of agent by nonresident fiduciary.
Section 33-18-10. - Appointment of agent by fiduciary removing from state.
Section 33-18-11. - Death, resignation, or removal of fiduciary’s agent from state.
Section 33-18-12. - Revocation of power of fiduciary’s agent.
Section 33-18-13. - Removal of fiduciary for failure to appoint agent.
Section 33-18-14. - Service of process on fiduciary’s agent.
Section 33-18-15. - Exercise of power of sale in mortgage.
Section 33-18-16. - Abandonment or adjustment of controversies.
Section 33-18-17. - Action in name of estate prosecuted by interested person.
Section 33-18-18. - Intervention in proceedings by or against estate.
Section 33-18-21. - Recording of documents in court.
Section 33-18-22. - Release by good faith delivery of property under court order.
Section 33-18-23. - Bona fide transfer of property to executor, administrator, or guardian.
Section 33-18-24. - Transfer of corporate securities and mortgages by foreign fiduciary.
Section 33-18-25. - Payment of debt or delivery of property to foreign fiduciary.
Section 33-18-26. - Action by foreign executor or administrator — Prerequisites.
Section 33-18-28. - Decree ratifying payment or delivery by fiduciary without order.
Section 33-18-29. - Deposit of unclaimed funds in court — Payment by court.