Rhode Island General Laws 34-24-8. Agreements affecting landlord’s interests – Agreements to subordinate prior liens
An assignment of or an agreement affecting any rights or interests of a landlord or owner of premises occupied by a tenant or person planting on shares, or an agreement to subordinate a prior lien or encumbrance on real property, may be recorded in the land records in the office of the clerk of the town in which the premises are situated, and the clerk shall in each case enter a reference to the record of the subordination agreement on the margin of the record of the instrument affected thereby. Any agreement herein provided for shall be valid and enforceable against the party executing the agreement from the time of execution and delivery thereof and against all creditors of the party and all persons claiming under or through the party from the time of the recording thereof.
History of Section.
P.L. 1935, ch. 220, § 4; G.L. 1938, ch. 443, § 4; G.L. 1956, § 34-24-8; P.L. 1960, ch. 147, § 3.
Terms Used In Rhode Island General Laws 34-24-8
- Lien: A claim against real or personal property in satisfaction of a debt.
- person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- 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