§ 18-4-4 - Power of sale. - Rhode Island Statutes

SECTION 18-4-4

   § 18-4-4  Power of sale. – (a) Where a trust for sale, or a power of sale of property, is vested intrustees, they may sell or concur with any other person in selling all or anypart of the property, either subject to prior encumbrances or not, and eithertogether or in lots, by public auction or by private contract, subject to anyconditions respecting title or evidence of title or other matter as thetrustees think fit, with power to vary any contract for sale and to buy in atany auction as the trustees deem advantageous, or to rescind any contract forsale and to resell without being answerable for any resulting loss.

   (b) This section applies only if, and as far as, a contraryintention is not expressed in the instrument creating the trust or power, andshall have effect, subject to the terms of that instrument and to theprovisions therein contained.

   (c) This section applies only to a trust or power created byan instrument executed on or after the first day of February, 1896.