Rhode Island General Laws 33-19-7. Executor’s or administrator’s bond to cover application of proceeds of mortgage or sale
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Every executor or administrator empowered to sell or mortgage real estate as provided in § 33-19-3 shall, before making the sale or mortgage, give bond with a surety or sureties satisfactory to the court that he or she will apply the proceeds of the sale or mortgage to the purposes for which it was made.
History of Section.
C.P.A. 1905, § 744; G.L. 1909, ch. 308, § 11; G.L. 1923, ch. 359, § 11; G.L. 1938, ch. 570, § 11; G.L. 1956, § 33-19-7.
Terms Used In Rhode Island General Laws 33-19-7
- Executor: A male person named in a will to carry out the decedent
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- 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