§ 39-6-25 - Rights and liabilities of purchaser at mortgage or judicial sale. - Rhode Island Statutes

SECTION 39-6-25

   § 39-6-25  Rights and liabilities ofpurchaser at mortgage or judicial sale. – The purchaser of any railroad or street railway and of the property, rights,privileges, and franchises therewith connected, at a sale under a validforeclosure of a legal mortgage thereof, or at a valid sale under the power ofsale of the mortgage, or at a valid sale under the orders and directions of anycourt of competent jurisdiction, and the grantee and successors in title of anypurchaser, shall be subject to all and the same duties, liabilities,restrictions, and other provisions respecting the railroad or street railway,or arising from the construction, maintenance, and operation thereof, and shallhave all and the same powers and rights relating to the railroad or streetrailway, and the construction, maintenance, and operation thereof, which thecorporation by which the mortgage was made, or which was the owner of therailroad or street railway at the time of the sale, was subject to and had atthe time of the sale.