State Codes and Statutes
Statutes > Rhode-island > Title-34 > Chapter-34-26 > 34-26-4SECTION 34-26-4
§ 34-26-4 Requiring assignment of mortgagein lieu of discharge – Enforcement by incumbrancers. – Where a mortgagor is entitled to redeem, he or she shall by virtue of thissection have power to require the mortgagee, instead of discharging orreconveying, and on the terms on which he or she would be bound to discharge orreconvey, to assign the mortgage debt and convey the mortgaged property to suchthird person as the mortgagor directs; provided, that the mortgagor assumes theexpense of making the assignment and conveyance, and obligates himself orherself to have the same recorded, and the fact of the transfer being madeshall be prima facie evidence that the assumption of expense and the obligationhave been made; and the mortgagee shall, by virtue of this section, be bound,on being relieved of all expense and having the obligation made to him or her,to assign and convey accordingly; and the right shall belong to and be capableof being enforced by each incumbrancer, or by the mortgagor, notwithstandingany intermediate incumbrance, but a requisition of an incumbrancer shallprevail over a requisition of the mortgagor and, as between incumbrancers, arequisition of a prior incumbrancer shall prevail over a requisition of asubsequent incumbrancer. This section does not apply in the case of a mortgageebeing or having been in possession.
