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Rhode Island Supreme Court Rules That Condominium Assessment Liens Could Extinguish First-Priority Mortgages

/ Owner - January 28, 2016

First mortgage holders in Rhode Island beware: in a 4-1 decision handed down on December 4, 2015, the Rhode Island Supreme Court has ruled that pursuant to the Rhode Island Condominium Act, RIGL § 34-36.1-1.01 et seq., liens for six months of unpaid common fees prior to the foreclosure have super-priority status, and can extinguish first-priority mortgages under certain circumstances.    Read the article………….

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