§ 34-25.1-6. Mortgages to which this chapter applies.
(a) “Mortgage,” as used in this chapter, means a real estate mortgage deed or real estate mortgage instrument entitled, “Reverse mortgage to secure present and future loans under chapter 25.1 of title 34,” and which includes in its provisions the terms and elements set forth in § 34-25.1-2; but this chapter shall not apply to nor affect, directly, indirectly or by implication, any mortgage made before January 1, 1985, and shall not apply to nor affect, directly, indirectly, or by implication, any mortgage thereafter made, whether or not it provides for future loans, unless it complies with the requirements of this chapter.
(b) “Mortgagor,” as used in this chapter, means and includes the mortgagor and mortgagors named in the “mortgage,” and his, her, its or their heirs, executors, administrators, successors or assigns, as the case may be.
History of Section.P.L. 1986, ch. 475, § 1.
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.