reglab/housing_qa huggingface dataset:
RI Gen L § 34-25.1-12 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-25.1 - Reverse Mortgages|Section 34-25.1-12 - Non-binding on the applicant.

§ 34-25.1-12. Non-binding on the applicant.An applicant for a reverse mortgage loan shall not be bound for at least three (3) business days after all of the following shall have occurred: (1) The applicant's execution and delivery to the mortgagee of a fully completed application for the reverse mortgage loan; (2) The applicant's delivery to the mortgagee of the requisite fully completed and executed certificate in proper form evidencing the applicant's completion of the counseling required pursuant to § 37-25.1-9 (as to any reverse mortgage loan that is exempt, pursuant to subsection 34-25.1-9(g), from the requirements of subsections 34-25.1-9(b), (c) and (e), such certificate must meet the requirements of 12 U.S.C. § 1715z-20 and the federal regulations promulgated with respect thereto); and (3) The applicant's receipt, in writing, of all of the information required to be disclosed pursuant to § 37-25.1-10. No reverse mortgage loan shall be closed prior to the expiration of this three (3) business day period, and this three (3) business day period shall be in addition to any right of rescission the mortgagors may have following the closing of the loan. In addition, no costs in connection with the application and processing of a proposed reverse mortgage loan shall be imposed upon any applicant for a reverse mortgage until the events described in subsections 34-25.1-12(1) and (2) have occurred. Each mortgagee shall inform each applicant in writing of the applicant's rights pursuant to § 34-25.1-12 simultaneously with providing the application to the applicant for completion.History of Section.P.L. 2008, ch. 19, § 2; P.L. 2008, ch. 21, § 2.
RI Gen L § 34-25.1-13 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-25.1 - Reverse Mortgages|Section 34-25.1-13 - Attorneys-in-fact - Guardians.

§ 34-25.1-13. Attorneys-in-fact — Guardians.All mortgagees shall require any person who executes reverse mortgage loan documents as attorney-in-fact for another to deliver at the closing a written, notarized certification as to all of the following: (1) That the power of attorney is then in full force and effect and has not been revoked or otherwise terminated; and (2) That the attorney-in-fact acknowledges his or her fiduciary obligations to the principal pursuant to the power of attorney with respect to the reverse mortgage loan.History of Section.P.L. 2008, ch. 19, § 2; P.L. 2008, ch. 21, § 2.
RI Gen L § 34-25.1-14 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-25.1 - Reverse Mortgages|Section 34-25.1-14 - Regulations.

§ 34-25.1-14. Regulations.The director of the department of business regulation shall have the authority to promulgate such regulations as shall be reasonably necessary to carry out §§ 34-25.1-10 through 34-25.1-16. The director of the department of business regulation shall also have the authority to promulgate regulations pursuant to § 34-25.1-7 with respect to unfair and deceptive trade practices. The director of the department of elderly affairs shall have the authority to promulgate such regulations as shall be reasonably necessary to carry out § 34-25.1-9.History of Section.P.L. 2008, ch. 19, § 2; P.L. 2008, ch. 21, § 2.
RI Gen L § 34-25.1-15 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-25.1 - Reverse Mortgages|Section 34-25.1-15 - Property held in name or trust.

§ 34-25.1-15. Property held in name or trust.It is the intention of chapter 34-25.1 that the cash advances made under a reverse mortgage shall be made by the lender to the mortgagor. In the event that legal title to the property encumbered by a reverse mortgage is held in trust:(1) The reverse mortgage proceeds may be received by the occupant of the property provided that the occupant is a beneficiary of the trust;(2) References in subdivision 34-25.1-7(a)(5) to the mortgagor shall be deemed to refer to the occupant of the property provided that the occupant is a beneficiary of the trust;(3) References in subdivision 34-25.1-7(s)(6) to absences from the home shall be deemed to refer to the occupant of the property provided that the occupant is a beneficiary of the trust.History of Section.P.L. 2008, ch. 19, § 2; P.L. 2008, ch. 21, § 2; P.L. 2011, ch. 363, § 15.
RI Gen L § 34-25.1-16 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-25.1 - Reverse Mortgages|Section 34-25.1-16 - Liberal construction.

§ 34-25.1-16. Liberal construction.This chapter shall be construed liberally in aid of its purpose of ensuring that reverse mortgage borrowers fully understand the ramifications of entering into a reverse mortgage transaction.History of Section.P.L. 2008, ch. 19, § 2; P.L. 2008, ch. 21, § 2.
RI Gen L § 34-25.2-1 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-25.2 - Rhode Island Home Loan Protection Act|Section 34-25.2-1 - Short title.

§ 34-25.2-1. Short title.This chapter shall be known as the "Rhode Island Home Loan Protection Act."History of Section.P.L. 2006, ch. 569, § 1; P.L. 2006, ch. 573, § 1.
RI Gen L § 34-25.2-2 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-25.2 - Rhode Island Home Loan Protection Act|Section 34-25.2-2 - Legislative findings.

§ 34-25.2-2. Legislative findings.The general assembly finds that predatory lending has become an increasing problem in this state, threatening the viability of many communities and causing decreases in home ownership. While the marketplace may appear to be operating effectively for most home loans, too many homeowners are falling victim to unprincipled creditors who provide loans at exorbitant costs and include terms which are unnecessary to secure repayment of the loan. The general assembly finds that as competition and self-regulation have not eliminated the predatory terms for home-secured loans, the consumer protection provisions of this chapter are necessary to encourage responsible lending.History of Section.P.L. 2006, ch. 569, § 1; P.L. 2006, ch. 573, § 1.
RI Gen L § 34-25.2-3 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-25.2 - Rhode Island Home Loan Protection Act|Section 34-25.2-3 - Purpose.

§ 34-25.2-3. Purpose.The purpose of this act is to prohibit predatory lending practices in this state while preserving access to credit in the subprime market.History of Section.P.L. 2006, ch. 569, § 1; P.L. 2006, ch. 573, § 1.
RI Gen L § 34-25.2-5 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-25.2 - Rhode Island Home Loan Protection Act|Section 34-25.2-5 - Prohibited acts and practices regarding home loans.

§ 34-25.2-5. Prohibited acts and practices regarding home loans.A home loan shall be subject to the following prohibited acts and practices.(a) No creditor making a home loan shall finance, directly or indirectly, any credit life, credit disability, credit unemployment or credit property insurance, or any other life or health insurance, or any payments directly or indirectly for any debt cancellation or suspension agreement or contract, except that insurance premiums or debt cancellation or suspension fees calculated and paid in full on a monthly basis shall not be considered financed by the creditor.(b) No creditor shall knowingly or intentionally engage in the unfair act or practice of flipping a home loan. "Flipping a home loan" is the making of a home loan to a borrower that refinances an existing home loan that was consummated within the prior sixty (60) months when the new loan does not have reasonable, tangible net benefit in accordance with subsection 34-25.2-4(q), to the borrower considering all of the circumstances, including, but not limited to, the terms of both the new and refinanced loans, the cost of the new loan, and the borrower's circumstances.(c) No creditor shall recommend or encourage default on an existing loan or other debt prior to and in connection the closing or planned closing of a home loan that refinances all or any portion of such existing loan or debt.(d) No home loan may contain a provision that permits the creditor, in its sole discretion, to accelerate the indebtedness. This provision does not prohibit acceleration of the loan in good faith due to the borrower's failure to abide by the material terms of the loan.(e) No home loan may contain a provision that allows a party to require a borrower to assert any claim or defense in a forum that is less convenient, more, costly, or more dilatory for the resolution of a dispute than a judicial forum established in this state where the borrower may otherwise properly bring a claim or defense or limits in any way claim or defense the borrower may have.History of Section.P.L. 2006, ch. 569, § 1; P.L. 2006, ch. 573, § 1.
RI Gen L § 34-25.2-7 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-25.2 - Rhode Island Home Loan Protection Act|Section 34-25.2-7 - Assignee liability.

§ 34-25.2-7. Assignee liability.(a) Any person who purchases or is otherwise assigned a high-cost home loan shall be subject to all affirmative claims and any defenses with respect to the loan that the borrower could assert against the original creditor of the loan; provided, that this section shall not apply if the purchaser or assignee demonstrates by a preponderance of the evidence that it:(1) Has in place at the time of the purchase or assignment of the subject loans, policies that expressly prohibit its purchase or acceptance of assignment of any high-cost home loans;(2) Requires by contract that a seller or assignor of home loans to the purchaser or assignee represents and warrants to the purchaser or assignee that either: (a) the seller or assignor will not sell or assign any high-cost home loans to the purchaser or assignee; or (b) that such seller or assignor is a beneficiary of a representation and warranty from a previous seller or assignor to that effect; and(3) Exercises reasonable due diligence at the time of purchase or assignment of high-cost home loans or within a reasonable period of time after the purchase or assignment of such high-cost home loans, intended by the purchaser or assignee to prevent the purchaser or assignee from purchasing or taking assignment of any high-cost home loans; provided, further, that reasonable due diligence shall provide for sampling and shall not require loan-by-loan review.(b) In the event that a purchaser or assignee does not prevail under subsection (a), any recovery by a borrower, under this section, shall be limited to amounts required to reduce or extinguish the borrower's liability under the high-cost home loan plus amounts required to recover costs, including reasonable attorneys' fees. Any such claim asserted by a borrower against a subsequent holder or assignee of the high-cost home loan may be asserted by a borrower acting only in an individual capacity and must be asserted as follows:(1) Within five (5) years of the closing of a high-cost home loan, a violation of this act in connection with the loan as an original action; and(2) At any time during the term of a high-cost home loan, after an action to collect on the high-cost home loan or foreclose on the collateral securing the high-cost home loan has been initiated or the debt arising from the high-cost home loan has been accelerated or the high-cost home loan has become sixty (60) days in default, any defense, claim or counterclaim, or action to enjoin foreclosure or preserve or obtain possession of the home that secures the loan.(c) The provisions of this section shall be effective notwithstanding any other provision of law; provided, that nothing in this section shall be construed to limit the substantive rights, remedies or procedural rights available to a borrower against any creditor, assignee or holder under any other law.History of Section.P.L. 2006, ch. 569, § 1; P.L. 2006, ch. 573, § 1; P.L. 2007, ch. 54, § 1; P.L. 2007, ch. 67, § 1.
RI Gen L § 34-25.2-9 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-25.2 - Rhode Island Home Loan Protection Act|Section 34-25.2-9 - Subterfuge prohibited.

§ 34-25.2-9. Subterfuge prohibited.It shall be a violation of this chapter for any person to attempt in bad faith to avoid the application of this chapter by:(1) Dividing any loan transaction into separate parts for the purpose of evading the provisions of this chapter;(2) Structuring a home loan transaction as an open-end loan for the purpose of evading the provisions of this chapter when the loan would have been a high-cost home loan if the loan had been structured as a closed-end loan;(3) Engaging in any other subterfuge with the intent of evading any provision of this chapter.History of Section.P.L. 2006, ch. 569, § 1; P.L. 2006, ch. 573, § 1; P.L. 2011, ch. 363, § 16.
RI Gen L § 34-25.2-10 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-25.2 - Rhode Island Home Loan Protection Act|Section 34-25.2-10 - Rights in addition to other laws.

§ 34-25.2-10. Rights in addition to other laws.The rights conferred by this chapter are independent of and in addition to any other rights under other laws.History of Section.P.L. 2006, ch. 569, § 1; P.L. 2006, ch. 573, § 1.
RI Gen L § 34-25.2-11 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-25.2 - Rhode Island Home Loan Protection Act|Section 34-25.2-11 - Exemption.

§ 34-25.2-11. Exemption.The provisions of this chapter shall not apply to:(1) Any national bank, federal savings bank, federal credit union, credit union, or financial institution, as defined under § 19-1-1, or their wholly-owned subsidiary; and(2) The Federal Housing Administration, the Department of Veterans Affairs, or other state or federal housing finance agencies.History of Section.P.L. 2006, ch. 569, § 1; P.L. 2006, ch. 573, § 1; P.L. 2007, ch. 54, § 1; P.L. 2007, ch. 67, § 1; P.L. 2011, ch. 363, § 16.
RI Gen L § 34-25.2-12 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-25.2 - Rhode Island Home Loan Protection Act|Section 34-25.2-12 - Department of business regulation.

§ 34-25.2-12. Department of business regulation.The director may promulgate such rules and regulations as are necessary and proper to carry out the provisions of this chapter. Rules and regulations promulgated for subsections 34-25.2-4(q) and 34-25.2-5(b) may contain such factors, classifications, differentiations or other provisions, and may provide for such adjustments and exceptions for any class of transactions as, in the judgment of the director, are necessary or proper to carry out those sections, to prevent circumvention or evasion thereof or to facilitate compliance therewith.History of Section.P.L. 2006, ch. 569, § 1; P.L. 2006, ch. 573, § 1.
RI Gen L § 34-25.2-13 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-25.2 - Rhode Island Home Loan Protection Act|Section 34-25.2-13 - Reporting.

§ 34-25.2-13. Reporting.The department shall report to the governor and the general assembly on or before January 1, 2009, with regard to the effectiveness of this act in achieving its purpose, which report shall include, but not be limited to:(1) The reported incidence of prohibited practices by calendar quarter for the period January 1, 2007 through June 30, 2008;(2) The disposition, if any, of the reported incidences of prohibited practices;(3) Findings and recommendations with regard to any improvements, amendments, or changes that should be considered to make the act more effective in achieving its purposes or which may be necessary in order to assure fair availability of credit.History of Section.P.L. 2006, ch. 569, § 1; P.L. 2006, ch. 573, § 1; P.L. 2011, ch. 363, § 16.
RI Gen L § 34-25.2-14 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-25.2 - Rhode Island Home Loan Protection Act|Section 34-25.2-14 - Liberal construction.

§ 34-25.2-14. Liberal construction.This chapter shall be construed liberally in aid of its declared purpose of protecting the homes and the equity of individual borrowers in this state.History of Section.P.L. 2006, ch. 569, § 1; P.L. 2006, ch. 573, § 1.
RI Gen L § 34-25.2-15 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-25.2 - Rhode Island Home Loan Protection Act|Section 34-25.2-15 - Severability.

§ 34-25.2-15. Severability.If any provision of this chapter or the application of this chapter to any person or circumstances is held invalid or unconstitutional, the invalidity or unconstitutionality shall not affect other provisions or applications of this chapter which can be given effect without the invalid or unconstitutional provision or application, and to this end, the provisions of this chapter are declared to be severable.History of Section.P.L. 2006, ch. 569, § 1; P.L. 2006, ch. 573, § 1.
RI Gen L § 34-26-1 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-26 - Redemption, Release, and Transfer of Mortgages|Section 34-26-1 - Complaint to redeem.

§ 34-26-1. Complaint to redeem.Any person entitled in equity to redeem any mortgaged property, whether real or personal, may prefer a complaint to redeem the property, which complaint may be heard, tried and determined according to the usages in chancery and the principles of equity.History of Section.G.L. 1896, ch. 207, § 14; G.L. 1909, ch. 258, § 14; G.L. 1923, ch. 302, § 14; G.L. 1938, ch. 442, § 14; G.L. 1956, § 34-26-1.
RI Gen L § 34-26-2 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-26 - Redemption, Release, and Transfer of Mortgages|Section 34-26-2 - Right to discharge on satisfaction of mortgage - Escrow accounts.

§ 34-26-2. Right to discharge on satisfaction of mortgage — Escrow accounts.(a) Every mortgagee of real estate, his, her or its heirs, executors, administrators, successors, or assigns, having received full satisfaction for the money due on the mortgage, shall, within thirty (30) days after final payment, discharge the mortgage as provided in § 34-26-3 or by separate instrument of release of the mortgage, and shall send the discharge to be recorded in the proper record book with suitable references to the original record, including the mortgagor's name and address, which shall forever afterwards discharge, defeat and release the mortgage and perpetually bar all actions to be brought thereon in any court. Upon forwarding the discharge for recording the mortgagee shall notify the mortgagor. Any mortgagor or his agent upon tendering final payment to the mortgagee in full satisfaction of the mortgage may in writing require the mortgagee to issue the discharge by separate instrument of release, directly to a designated person or real estate closing officer within the thirty (30) day period.(b) Every mortgagee of real estate, his, her or its heirs, executors, administrators or successors or assigns, having received full satisfaction for the money due on the mortgage, shall, within thirty (30) days after final payment, disburse to the mortgagor any and all funds held in escrow under the terms of the mortgage.History of Section.G.L. 1896, ch. 207, § 5; G.L. 1909, ch. 258, § 5; G.L. 1923, ch. 302, § 5; G.L. 1938, ch. 442, § 5; G.L. 1956, § 34-26-2; P.L. 1960, ch. 147, § 3; P.L. 1980, ch. 240, § 1; P.L. 1987, ch. 216, § 1; P.L. 1993, ch. 53, § 1; P.L. 1993, ch. 143, § 1; P.L. 2000, ch. 482, § 1.
RI Gen L § 34-26-3 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-26 - Redemption, Release, and Transfer of Mortgages|Section 34-26-3 - Methods of discharge.

§ 34-26-3. Methods of discharge.A mortgage may be discharged in whole or in part by an entry acknowledging the satisfaction thereof or the payment thereon, as the case may be, made on the face or back of the mortgage, or upon the face or margin of the record of the mortgage, in the records of land evidence, and signed by the mortgagee or by his or her executor, administrator, successor, or, if the mortgage be assigned, by the assignee or his or her executor or administrator; and such entry shall have the same effect as a deed of release duly acknowledged and recorded.History of Section.G.L. 1896, ch. 207, § 6; G.L. 1909, ch. 258, § 6; G.L. 1923, ch. 302, § 6; G.L. 1938, ch. 442, § 6; G.L. 1956, § 34-26-3.
RI Gen L § 34-26-4 (2021)
2021 Rhode Island General Laws|Title 34 - Property|Chapter 34-26 - Redemption, Release, and Transfer of Mortgages|Section 34-26-4 - Requiring assignment of mortgage in lieu of discharge - Enforcement by incumbrancers.

§ 34-26-4. Requiring assignment of mortgage in lieu of discharge — Enforcement by incumbrancers.Where a mortgagor is entitled to redeem, he or she shall by virtue of this section have power to require the mortgagee, instead of discharging or reconveying, and on the terms on which he or she would be bound to discharge or reconvey, to assign the mortgage debt and convey the mortgaged property to such third person as the mortgagor directs; provided, that the mortgagor assumes the expense of making the assignment and conveyance, and obligates himself or herself to have the same recorded, and the fact of the transfer being made shall be prima facie evidence that the assumption of expense and the obligation have been made; and the mortgagee shall, by virtue of this section, be bound, on being relieved of all expense and having the obligation made to him or her, to assign and convey accordingly; and the right shall belong to and be capable of being enforced by each incumbrancer, or by the mortgagor, notwithstanding any intermediate incumbrance, but a requisition of an incumbrancer shall prevail over a requisition of the mortgagor and, as between incumbrancers, a requisition of a prior incumbrancer shall prevail over a requisition of a subsequent incumbrancer. This section does not apply in the case of a mortgagee being or having been in possession.History of Section.G.L. 1896, ch. 207, § 7; G.L. 1909, ch. 258, § 7; G.L. 1923, ch. 302, § 7; G.L. 1938, ch. 442, § 7; G.L. 1956, § 34-26-4.