Rhode Island § 34-25-12 - Future Loans and After-Acquired Property
Full text of Rhode Island Rhode Island General Laws § 34-25-12 — Future Loans and After-Acquired Property, with citation guidance and answers to common questions.
§ 34-25-12. Future Loans and After-Acquired Property
R.I. Gen. Laws § 34-25-12
§ 34-25-12. Discharge of open-end mortgage.
(a) Notwithstanding the provisions of § 34-26-2, no mortgagee under an open-end mortgage subject to this chapter shall be obligated to discharge the mortgage until the mortgagee receives full satisfaction for the money due thereon and receives such written agreements as the mortgagee shall reasonably request releasing the mortgagee from any further obligation to make future advances under any and all notes and agreements theretofore secured by the mortgage deed.
(b) Notwithstanding the provisions of any agreement by and between the mortgagee and the mortgagor or any other person, the mortgagee under the mortgage shall have the option to discharge any mortgage if there has existed no outstanding indebtedness thereunder for a continuous period of not less than two (2) years, and effective upon the recording of the discharge, the mortgagee shall be released and discharged from any further obligation to make any loans or advances under any notes or agreements executed in connection with the mortgage.
History of Section.
P.L. 1983, ch. 230, § 1.
Source: official Rhode Island text · Last verified 2026-08-27
Frequently Asked Questions About Rhode Island § 34-25-12
What does Rhode Island General Laws § 34-25-12 cover?
Section 34-25-12 ("Future Loans and After-Acquired Property") is part of the Rhode Island General Laws, the codified statutory law of Rhode Island. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Rhode Island § 34-25-12?
A common citation format is "Rhode Island General Laws § 34-25-12" (Rhode Island). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Rhode Island law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Rhode Island official source linked on this page or consult a licensed Rhode Island attorney.
How does Rhode Island § 34-25-12 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Rhode Island can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Rhode Island.