Real Estate Laws in Rhode Island.

Rhode Island permits nonjudicial foreclosure where the mortgage contains a statutory power-of-sale clause. Notice of default, notice of sale (published 3 successive weeks), and sale typically conducted by the mortgagee. Process typically 90-120 days.

For owner-occupied 1-4 family residential properties in default, the lender must offer mortgage mediation through the Department of Business Regulation before proceeding to foreclosure sale.

Sellers of residential real estate must provide a Residential Real Estate Disclosure Statement covering 50+ conditions (structure, systems, environmental, flooding, lead paint, etc.). One of the most detailed residential disclosure statutes in the U.S.

Homestead protects up to $500,000 of equity in the debtor's primary residence — one of the more generous homestead exemptions in the U.S.

Rhode Island imposes a Realty Transfer Tax of $2.30 per $500 of consideration (0.46%) — paid by seller at closing.

Contractors, subcontractors, and suppliers may file mechanics' liens against improved real property. Strict notice requirements apply.

Rhode Island is a race-notice state: a subsequent bona fide purchaser for value without notice who records first prevails over an earlier unrecorded conveyance.