§ 34-27-6 Payment of outstanding taxes.– (a) In connection with any sale by public auction made under and according tothe provisions of any mortgage of real estate or any power of sale containedtherein or annexed thereto, if the mortgagee or an affiliate of the mortgageeis the successful bidder for the real estate or property offered for sale, theforeclosure deed shall be recorded in the records of land evidence for themunicipality where the real estate is located within forty-five (45) days afterthe date of the sale. The deed shall be captioned "foreclosure deed" and thedate of the foreclosure shall be stated in the deed. This subsection (a) shallnot apply to any such sale if, prior to the recording of the foreclosure deed:(1) the mortgagor files a voluntary proceeding, or an order for relief isentered in any involuntary proceeding against the mortgagor, under any federalor state bankruptcy or insolvency statute; or (2) the mortgagee abandons orotherwise terminates such sale.
(b) Notwithstanding any other general law or local ordinanceto the contrary, the grantee of real estate named in the foreclosure deed shallpay to the municipality, on or before the date the foreclosure deed isrecorded, all taxes and other assessments, including water charges, interestand penalties, if any, which constitute liens on the real estate described inthe foreclosure deed and which are due and owing on the recording date(collectively, "taxes due and owing"); provided, however, that a grantee shallnot be deemed in violation of this subsection (b) if the grantee shall applyfor a municipal lien certificate from the tax collector for the municipalityduring the forty-five (45) day period ending on the day on which theforeclosure deed is recorded and shall pay the taxes due and owing withinthirty (30) days after the date on which the municipal lien certificate ismailed by the tax collector by the United States mail, postage prepaid,certified, return receipt requested, and addressed to the grantee at theaddress therefor set forth in the application for the municipal liencertificate. Taxes due and owing for purposes of this section shall includeonly installments thereof required by law to be paid as of the date theforeclosure deed is recorded.
(c) Upon a violation of any one or more of the requirementsof this section, a penalty shall accrue at the rate of forty dollars ($40.00)per month (in the aggregate) for each month or part thereof during which suchviolation or violations continue. For purposes of determining the penalty duehereunder, a month commences on the day on which the first such violationoccurs and a new month commences on the same day (or if there is no such day,then on the last day) of each succeeding calendar month until all taxes due andowing are paid. In the event of a violation of subsection (a), taxes due andowing shall be determined as of the date required thereunder for the recordingof a foreclosure deed.
(d) As used in this section, the term "affiliate" shall mean,with respect to any mortgagee, any individual or legal entity that controls, iscontrolled by or is under common control with such mortgagee, and the term"foreclosure deed" shall mean the mortgagee's deed or other conveyance of titleto the successful bidder at any sale by public auction made under and accordingto the provisions of any mortgage of real estate or any power of sale containedtherein or annexed thereto.
§ 34-27-6 Payment of outstanding taxes.– (a) In connection with any sale by public auction made under and according tothe provisions of any mortgage of real estate or any power of sale containedtherein or annexed thereto, if the mortgagee or an affiliate of the mortgageeis the successful bidder for the real estate or property offered for sale, theforeclosure deed shall be recorded in the records of land evidence for themunicipality where the real estate is located within forty-five (45) days afterthe date of the sale. The deed shall be captioned "foreclosure deed" and thedate of the foreclosure shall be stated in the deed. This subsection (a) shallnot apply to any such sale if, prior to the recording of the foreclosure deed:(1) the mortgagor files a voluntary proceeding, or an order for relief isentered in any involuntary proceeding against the mortgagor, under any federalor state bankruptcy or insolvency statute; or (2) the mortgagee abandons orotherwise terminates such sale.
(b) Notwithstanding any other general law or local ordinanceto the contrary, the grantee of real estate named in the foreclosure deed shallpay to the municipality, on or before the date the foreclosure deed isrecorded, all taxes and other assessments, including water charges, interestand penalties, if any, which constitute liens on the real estate described inthe foreclosure deed and which are due and owing on the recording date(collectively, "taxes due and owing"); provided, however, that a grantee shallnot be deemed in violation of this subsection (b) if the grantee shall applyfor a municipal lien certificate from the tax collector for the municipalityduring the forty-five (45) day period ending on the day on which theforeclosure deed is recorded and shall pay the taxes due and owing withinthirty (30) days after the date on which the municipal lien certificate ismailed by the tax collector by the United States mail, postage prepaid,certified, return receipt requested, and addressed to the grantee at theaddress therefor set forth in the application for the municipal liencertificate. Taxes due and owing for purposes of this section shall includeonly installments thereof required by law to be paid as of the date theforeclosure deed is recorded.
(c) Upon a violation of any one or more of the requirementsof this section, a penalty shall accrue at the rate of forty dollars ($40.00)per month (in the aggregate) for each month or part thereof during which suchviolation or violations continue. For purposes of determining the penalty duehereunder, a month commences on the day on which the first such violationoccurs and a new month commences on the same day (or if there is no such day,then on the last day) of each succeeding calendar month until all taxes due andowing are paid. In the event of a violation of subsection (a), taxes due andowing shall be determined as of the date required thereunder for the recordingof a foreclosure deed.
(d) As used in this section, the term "affiliate" shall mean,with respect to any mortgagee, any individual or legal entity that controls, iscontrolled by or is under common control with such mortgagee, and the term"foreclosure deed" shall mean the mortgagee's deed or other conveyance of titleto the successful bidder at any sale by public auction made under and accordingto the provisions of any mortgage of real estate or any power of sale containedtherein or annexed thereto.
§ 34-27-6 Payment of outstanding taxes.– (a) In connection with any sale by public auction made under and according tothe provisions of any mortgage of real estate or any power of sale containedtherein or annexed thereto, if the mortgagee or an affiliate of the mortgageeis the successful bidder for the real estate or property offered for sale, theforeclosure deed shall be recorded in the records of land evidence for themunicipality where the real estate is located within forty-five (45) days afterthe date of the sale. The deed shall be captioned "foreclosure deed" and thedate of the foreclosure shall be stated in the deed. This subsection (a) shallnot apply to any such sale if, prior to the recording of the foreclosure deed:(1) the mortgagor files a voluntary proceeding, or an order for relief isentered in any involuntary proceeding against the mortgagor, under any federalor state bankruptcy or insolvency statute; or (2) the mortgagee abandons orotherwise terminates such sale.
(b) Notwithstanding any other general law or local ordinanceto the contrary, the grantee of real estate named in the foreclosure deed shallpay to the municipality, on or before the date the foreclosure deed isrecorded, all taxes and other assessments, including water charges, interestand penalties, if any, which constitute liens on the real estate described inthe foreclosure deed and which are due and owing on the recording date(collectively, "taxes due and owing"); provided, however, that a grantee shallnot be deemed in violation of this subsection (b) if the grantee shall applyfor a municipal lien certificate from the tax collector for the municipalityduring the forty-five (45) day period ending on the day on which theforeclosure deed is recorded and shall pay the taxes due and owing withinthirty (30) days after the date on which the municipal lien certificate ismailed by the tax collector by the United States mail, postage prepaid,certified, return receipt requested, and addressed to the grantee at theaddress therefor set forth in the application for the municipal liencertificate. Taxes due and owing for purposes of this section shall includeonly installments thereof required by law to be paid as of the date theforeclosure deed is recorded.
(c) Upon a violation of any one or more of the requirementsof this section, a penalty shall accrue at the rate of forty dollars ($40.00)per month (in the aggregate) for each month or part thereof during which suchviolation or violations continue. For purposes of determining the penalty duehereunder, a month commences on the day on which the first such violationoccurs and a new month commences on the same day (or if there is no such day,then on the last day) of each succeeding calendar month until all taxes due andowing are paid. In the event of a violation of subsection (a), taxes due andowing shall be determined as of the date required thereunder for the recordingof a foreclosure deed.
(d) As used in this section, the term "affiliate" shall mean,with respect to any mortgagee, any individual or legal entity that controls, iscontrolled by or is under common control with such mortgagee, and the term"foreclosure deed" shall mean the mortgagee's deed or other conveyance of titleto the successful bidder at any sale by public auction made under and accordingto the provisions of any mortgage of real estate or any power of sale containedtherein or annexed thereto.
