Chapter 409

2004 -- S 2059

Enacted 07/05/04

A N A C T

RELATING TO LEVY AND SALE ON EXECUTION

Introduced By: Senators Issa, Felag, Tassoni, F Caprio, and Lenihan

Date Introduced: January 13, 2004

It is enacted by the General Assembly as follows:

     SECTION 1. Section 9-26-4.1 of the General Laws in Chapter 9-26 entitled "Levy and

Sale on Execution" is hereby amended to read as follows:

9-26-4.1. Homestead estate exemption. -- (a) In addition to the property exempt from

attachment as set forth in section 9-26-4, an estate of homestead to the extent of one hundred fifty

thousand dollars ($150,000) two hundred thousand dollars ($200,000) in the land and buildings

may be acquired pursuant to this section by an owner or owners of a home or one or all who

rightfully possess the premise by lease or otherwise, and who occupy or intend to occupy the

home as a principal residence. The estate of homestead provided pursuant to this section shall be

automatic by operation of law, and without any requirement or necessity for the filing of a

declaration, a statement in a deed, or any other documentation. The estate shall be exempt from

the laws of attachment, levy on execution and sale for payment of debts or legacies except in the

following cases:

      (1) Sale for taxes, sewer liens, water liens, lighting district assessments and fire district

assessments;

      (2) For a debt contracted prior to the acquisition of the estate of homestead;

      (3) For a debt contracted for the purchase of the home;

      (4) Upon an order issued by the family court to enforce its judgment that a spouse pay a

certain amount weekly or otherwise for the support of a spouse or minor children;

      (5) Where a building or buildings are situated on land not owned by the owner of a

homestead estate are attached, levied upon or sold for the ground rent of the lot upon which the

building or buildings are situated;

      (6) for a debt due to, or a lien in favor of, the department of human services and/or the

state of Rhode Island for reimbursement of medical assistance, as provided for in section 40-8-15;

      (7) For a debt heretofore or hereafter owing to a federally insured deposit taking

institution or a person regulated or licensed under title 19.

      (b) For the purposes of this section, "owner of a home" includes a sole owner, joint

tenant, tenant by the entirety or tenant in common; provided, that only one owner may acquire an

estate of homestead in the home for the benefit of his or her family; and provided further, that an

estate of homestead may be acquired on only one principal residence for the benefit of a family.

For the purposes of this section, "family" includes either a parent and child or children, a husband

and wife and their children, if any, or a sole owner. The provisions of this section shall not apply

to any debt owing to a financial institution, or private mortgages, or a mechanics' lien on the

property comprising the estate as provided for under chapter 28 of title 34. Notwithstanding any

other provisions of law, it shall not be necessary to record a declaration of homestead in order to

take advantage of the homestead estate exemption.

     SECTION 2. This act shall take effect upon passage.

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LC00399

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