§ 33-19-1 - Court consent to mortgage. - Rhode Island Statutes

SECTION 33-19-1

   § 33-19-1  Court consent to mortgage.– The probate court which issued letters testamentary or of administration orguardianship may authorize an executor, administrator, or guardian to mortgagethe real estate of the deceased or ward upon a petition filed, describing theparticular estate to be mortgaged, the amount of money necessary to be raised,and the purpose for which the money is required, and the decree of the courtupon the petition shall fix the amount for which the mortgage is to be givenand the rate of interest which may be paid on the mortgage, and may order thewhole or any part of the loan to be paid from time to time out of the income ofthe property mortgaged.