Decision Alert! Protects the Association’s Super Priority Lien in Rhode Island
The Rhode Island Supreme Court released its opinion today in the much anticipated case of Twenty Eleven, LLC vs. Botelho. The question before the Court was whether or not a condominium lien foreclosure sale on the association’s super priority lien, conducted pursuant to the Rhode Island Condominium Act, Section 36.1 et seq., extinguished a first mortgage on the unit, when the mortgagee failed to exercise the statutory right of redemption. Read the article…………….
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