§ 33-18-15. Exercise of power of sale in mortgage. In case of a mortgage containing powers of sale, the executor, administrator, or guardian of the estate for the time being of the mortgagee may, on default, unless provisions to the contrary be made in the mortgage, exercise the enumerated powers of sale. The executor, administrator, or guardian may, if empowered by the mortgage or by law, and if in his or her discretion it is necessary to prevent a sacrifice of the property, bid upon and buy in the mortgaged property at the sale; and having so purchased, may, on application to the probate court, be authorized to resell the property at public or private sale pursuant to the direction of the court, and convey, without being accountable for any resulting loss. The proceeds of the sale shall be personal property.
History of Section. (C.P.A. 1905, § 880; G.L. 1909, ch. 313, § 15; G.L. 1923, ch. 364, § 15; G.L. 1938, ch. 577, § 15; G.L. 1956, § 33-18-15.)
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
