If the amount received from the sale is more than the taxes, interest and charges, and subsequent taxes and assessments, on all land included in the sale, together with the expenses of the sale, the balance shall be deposited with the city or town treasurer to be paid to the person entitled to it if demanded within five (5) years, otherwise it shall enure to the city or town. If the surplus results from the sale of several parcels for a lump sum, it shall be held for the several owners in proportion to the prices at which the several parcels were originally assessed by the city or town.
R.I. Gen. Laws § 44-9-37
Surplus proceeds from sale without foreclosure
Applied in 2 court decisions — leading case 2025 OK AG 10 - Questions Submitted by: The Honorable Kendal Sacchieri, Oklahoma State Senate, District 43 (2025)
Most recently applied in 2025 OK AG 10 - Questions Submitted by: The Honorable Kendal Sacchieri, Oklahoma State Senate, District 43 (July 2025)
G.L. 1938, ch. 32, § 54, P.L. 1946, ch. 1800, § 1; G.L. 1956, § 44-9-37.
Official source: Rhode Island General Assembly. Reproduced from public-domain Rhode Island statutes; confirm against the official source for the current text. Not legal advice.