§ 24-3-12 - Termination of leases and contracts on land taken. - Rhode Island Statutes

SECTION 24-3-12

   § 24-3-12  Termination of leases andcontracts on land taken. – Whenever the whole of any lot or parcel of land, or any building under lease orother contract, shall be taken as provided in § 24-3-10, for any of thepurposes as provided in this chapter, upon the election of the town or citycouncil, as provided in § 24-3-9, to make improvements, the lease orcontract shall immediately cease and determine and be absolutely discharged. Incase only part of any parcel of real estate so under lease or other contractshall be taken, all contracts and engagements respecting the parcel shall, fromthe time of the election, cease and determine, and be absolutely discharged asto the part so taken, but shall remain valid as to the residue, and the rents,considerations, and payments, reserved or payable and to be paid for or inrespect of the time, shall be apportioned so that the just proportional partthereof shall be demanded or paid or recoverable for or in respect of therents, considerations, and payments.