§ 34-4-23 - Expiration of recorded instruments affecting real estate.
SECTION 34-4-23
§ 34-4-23 Expiration of recordedinstruments affecting real estate. – Any recorded contract or other instrument, other than housing restrictions asset forth in § 34-39.1-3, and conservation restrictions and preservationrestrictions as set forth in §§ 34-39-3 and 34-39-4, which hascreated or shall create a right or obligation (other than an option) topurchase or sell real estate shall cease to be notice to any person or to putany person on inquiry with respect thereto unless, within ninety (90) daysafter the date therein provided for the delivery of the deed, or if no date istherein provided, then within ninety (90) days after the date therein providedfor the payment of the final payment or instalment of the purchase price, or ifno delivery date or payment date is therein provided, then within ninety (90)days after the date of the recording of the contract or other instrument, anaction or proceeding shall have been commenced to enforce the contract or otherinstrument and a notice of the pendency of the action, containing a referenceto the contract or other instrument and the book and page of the recordingthereof and a description of the real estate sufficient to identify it, shallhave been duly recorded. The ninety (90) day period provided for in thissection shall not be extended by any disability, absence from the state,acknowledgement, or new promise not of record, payment after maturity, or forany other cause with the exception that the ninety (90) day period may beextended by agreement of all the parties to the contract or other instrument atthe time of the execution of the contract or other instrument.