Twenty Eleven, LLC v. Botelho | RI SC - a condo foreclosure sale conducted pursuant to the RI Condo Act extinguishes a prior-recorded first mortgage on the unit following the mortgagee’s failure to exercise the right of redemption...

H/T Clouded Titles Justia In 2011, Plaintiff purchased a condominium unit at a condominium association lien foreclosure sale. In 2013, Plaintiff filed suit seeking to quiet title to the unit in his name. Plaintiff also sought declaratory and injunctive relief to prevent a foreclosure by Defendant, the prior owner’s first mortgage holder. The superior court dismissed Plaintiff’s complaint for failure to state a claim, concluding that Plaintiff took title to the property subject to Defendant’s mortgage. The Supreme Court reversed, holding that a condominium foreclosure sale conducted pursuant to the Rhode Island Condominium Act extinguishes a prior-recorded first mortgage on the unit following the mortgagee’s failure to exercise the right of redemption provided for in R.I. Gen. Laws 34-36.1-3.21(c). Remanded.   TITLE OF CASE: Twenty Eleven, LLC v. Michael J. Botelho et al. CASE NO: No. 2014-10-Appeal. (KC 13-432) COURT: Supreme Court DATE OPINION FILED: December 4, 2015 JUSTICES: Suttell, C.J., Goldberg, Flaherty, Robinson, and Indeglia, JJ. WRITTEN BY: Associate Justice Gilbert V. Indeglia SOURCE OF APPEAL: Kent County Superior Court JUDGE FROM LOWER COURT: Associate Justice Stephen P. Nugent ATTORNEYS ON APPEAL: For Plaintiff: Frank A. Lombardi, Esq. For Defendant: Peter F. Carr, III, Esq.