R.I. Gen. Laws §34-36.1-3.16
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Rhode Island Condominium Act — Lien for Assessments
Creates an assessment lien with 6-month super-priority over first mortgages. Attorney fee cap of $2,500; foreclosure cost cap of $5,000; aggregate cap of $7,500. When any assessment has been delinquent for 60 days, the association must notify the first mortgage holder via certified mail. Six-year statute of limitations on lien enforcement.
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Assessment
| Ref | Requirement |
|---|---|
| Sell the unit of any defaulting unit owner at public auction | |
| Six years after the full amount of the assessments becomes due | |
| Common expense assessments which would have become due in the absence of acceleration during the six months immediately preceding the foreclosure | |
| Creates an assessment lien with 6-month super-priority over first mortgages. |
Disclosure
| Ref | Requirement |
|---|---|
| When any assessment has been delinquent for 60 days, the association must notify the first mortgage holder via certified mail. |
Enforcement
| Ref | Requirement |
|---|---|
| Six-year statute of limitations on lien enforcement. |
Financial
| Ref | Requirement |
|---|---|
| Attorney fee cap of $2,500; foreclosure cost cap of $5,000; aggregate cap of $7,500. |
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