§ 34-25.1-13. Attorneys-in-fact — Guardians.
All mortgagees shall require any person who executes reverse mortgage loan documents as attorney-in-fact for another to deliver at the closing a written, notarized certification as to all of the following: (1) That the power of attorney is then in full force and effect and has not been revoked or otherwise terminated; and (2) That the attorney-in-fact acknowledges his or her fiduciary obligations to the principal pursuant to the power of attorney with respect to the reverse mortgage loan.
History of Section.P.L. 2008, ch. 19, § 2; P.L. 2008, ch. 21, § 2.
Structure Rhode Island General Laws
Chapter 34-25.1 - Reverse Mortgages
Section 34-25.1-1. - Reverse mortgages.
Section 34-25.1-2. - Form of reverse mortgage.
Section 34-25.1-3. - Priority over encumbrances not previously recorded.
Section 34-25.1-5. - Discharge of reverse mortgage.
Section 34-25.1-6. - Mortgages to which this chapter applies.
Section 34-25.1-7. - Reverse mortgage loan requirements.
Section 34-25.1-8. - Mortgagees authorized to take reverse mortgages.
Section 34-25.1-9. - Required counseling.
Section 34-25.1-10. - Pre-closing disclosures.
Section 34-25.1-11. - Annual account statements and other required disclosures.
Section 34-25.1-12. - Non-binding on the applicant.
Section 34-25.1-13. - Attorneys-in-fact — Guardians.
Section 34-25.1-14. - Regulations.