Rhode Island General Laws
R.I. Gen. Laws § 34-27-2 (2026)
Right of mortgagee to bid at sale
✓ current as of July 2026
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At any sale by public auction made under and according to the provisions of any mortgage of real estate, or of any power of sale contained therein or annexed thereto, the mortgagee in the deed of mortgage or other conveyance, or pledgee, his, her, or their assigns, or his, her, or their heirs, executors or administrators, or any person for him, her, or them, may fairly and in good faith bid for and purchase the estate or property so put up for sale, or any part thereof, in the same manner as it may be bid for and purchased by any other person.
Notes of Decisions
Cited in 2
cases, 1990–1996 · leading case: O'Neil v. Q.L.C.R.I., Inc., 750 F. Supp. 551 (D.R.I. 1990).
O'Neil v. Q.L.C.R.I., Inc., 750 F. Supp. 551 (D.R.I. 1990). “G.L. § 34-27-2. Therefore, plaintiffs claims are that if Davisville forecloses and if Davisville buys the property at public auction and if Davisville then does nothing to remedy the sewage problem, then Davis-ville will be in violation of federal and state statutory and common…”
Greenwood Credit Union v. Fleet Nat'l Bank, 675 A.2d 415 (R.I. 1996). “1956 (1984 Reenactment) § 34-27-2. We are of the opinion that, as a mortgagee, Fleet had a duty to exercise due care when it acted as a buyer at the foreclosure sale and that this duty extended to plaintiff.”
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