Rhode Island General Laws 34-25.1-16. Liberal construction
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This chapter shall be construed liberally in aid of its purpose of ensuring that reverse mortgage borrowers fully understand the ramifications of entering into a reverse mortgage transaction.
History of Section.
P.L. 2008, ch. 19, § 2; P.L. 2008, ch. 21, § 2.
Terms Used In Rhode Island General Laws 34-25.1-16
- 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. See Rhode Island General Laws 34-25.1-6
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.