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RILast updated: 2026-01
Rhode Island Regulations
Comprehensive guide to seller financing laws, usury limits, and disclosure requirements in Rhode Island.
Maximum Interest Rate
21%
Business exemptions may apply
Usury Laws
Interest rate limits and penalties
Maximum Rate
21%
Penalty Type
Forfeiture of interest
Notes
General usury limit is 21% (or 9% above T-bill rate).
Business Exemption
Business and commercial loans are generally exempt.
Seller Financing Requirements
Disclosures, licensing, and restrictions
Required Disclosures
- Real Estate Condition Report (residential)
- Lead-based paint disclosure (pre-1978)
Licensing Required
No license required
No license required for seller financing own property.
Consumer Protection
Applicable laws protecting buyers
- Rhode Island Deceptive Trade Practices Act
Real Estate Specifics
Foreclosure process and property laws
- Mortgage state
- Non-judicial power of sale foreclosure
- No statutory redemption after sale
Legal Disclaimer
This information about Rhode Island regulations is provided for educational purposes only and does not constitute legal or tax advice. Laws change frequently and vary by county and municipality. Always verify current regulations with a licensed Rhode Island attorney before entering into any seller financing arrangement.