Rhode Island General Laws 33-19-1. Court consent to mortgage
The probate court which issued letters testamentary or of administration or guardianship may authorize an executor, administrator, or guardian to mortgage the real estate of the deceased or ward upon a petition filed, describing the particular estate to be mortgaged, the amount of money necessary to be raised, and the purpose for which the money is required, and the decree of the court upon the petition shall fix the amount for which the mortgage is to be given and the rate of interest which may be paid on the mortgage, and may order the whole or any part of the loan to be paid from time to time out of the income of the property mortgaged.
History of Section.
C.P.A. 1905, § 737; G.L. 1909, ch. 308, § 4; P.L. 1918, ch. 1640, § 2; P.L. 1920, ch. 1844, § 1; G.L. 1923, ch. 359, § 4; G.L. 1938, ch. 570, § 4; G.L. 1956, § 33-19-1; P.L. 1995, ch. 323, § 28.
Terms Used In Rhode Island General Laws 33-19-1
- Executor: A male person named in a will to carry out the decedent
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Probate: Proving a will
- real estate: may be construed to include lands, tenements, and hereditaments and rights thereto and interests therein. See Rhode Island General Laws 43-3-10