Rhode Island General Laws 45-33.1-2. Acceptance of security interests and mortgages
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The various cities and towns and their respective redevelopment agencies are severally authorized to accept security interests and mortgages in personal property and real estate to secure loans made under this chapter, and are severally empowered to exercise all of the rights of a secured party or mortgagee with respect to those secured loans.
History of Section.
P.L. 1976, ch. 279, § 1.
Terms Used In Rhode Island General Laws 45-33.1-2
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Personal property: All property that is not real property.
- 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