Rhode Island § 5-80-4 - Mortgage Foreclosure Purchasers
Full text of Rhode Island Rhode Island General Laws § 5-80-4 — Mortgage Foreclosure Purchasers, with citation guidance and answers to common questions.
§ 5-80-4. Mortgage Foreclosure Purchasers
R.I. Gen. Laws § 5-80-4
§ 5-80-4. Contract cancellation.
(a) In addition to any other right of rescission, the foreclosed homeowner has the right to cancel any contract with a foreclosure purchaser until midnight of the fifth (5th) business day following the day on which the foreclosed homeowner signs a contract that complies with §§ 5-80-1 — 5-80-6 or until 8:00 a.m. on the last day of the period during which the foreclosed homeowner has a right of redemption, whichever occurs first.
(b) Cancellation occurs when the foreclosed homeowner delivers, by any means, written notice of cancellation to addresses specified in the contract.
(c) A notice of cancellation given by the foreclosed homeowner need not take the particular form as provided with the contract.
(d) Within ten (10) days following the receipt of a notice of cancellation given in accordance with this section, the foreclosure purchaser shall return without condition any original contract and any other documents signed by the foreclosed homeowner.
History of Section.
P.L. 2006, ch. 242, § 2; P.L. 2006, ch. 287, § 2; P.L. 2009, ch. 310, § 45.
Frequently Asked Questions About Rhode Island § 5-80-4
What does Rhode Island General Laws § 5-80-4 cover?
Section 5-80-4 ("Mortgage Foreclosure Purchasers") 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 § 5-80-4?
A common citation format is "Rhode Island General Laws § 5-80-4" (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 § 5-80-4 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.