§ 44-9-38 - Purchase by city or town at sale without foreclosure. - Rhode Island Statutes

SECTION 44-9-38

   § 44-9-38  Purchase by city or town at salewithout foreclosure. – If no person bids at a sale, or if no bid deemed adequate by the treasurer ismade at a sale, the treasurer shall then and there make public declaration ofthe fact, and if no bid or no bid deemed adequate is then made, the treasurershall give public notice that the treasurer purchases the land for the city ortown by which the tax is assessed; or if the person to whom the land is solddoes not within ten (10) days pay to the treasurer the sum bid by him or her,the sale shall be void and the city or town shall be deemed to be the purchaserof the land. If the city or town becomes the purchaser, the treasurer shallexecute to it a deed, which shall set forth the fact that no bid or no biddeemed adequate was made at the sale, or that the purchaser failed to pay theamount bid, as the case may be. The deed shall not be valid unless recordedwithin sixty (60) days after the sale under this section, and the title of thecity or town to land conveyed shall be absolute upon the recording of the deedin the proper registry of deeds within sixty (60) days (Form 14).