Rhode Island Memorandum of Purchase and Sales Agreement
County Specific Legal Forms Validated as recently as August 27, 2026 by our Forms Development Team
About the Rhode Island Memorandum of Purchase and Sales Agreement
How to Use This Form
- Select your county from the list
- Download the county-specific form
- Fill in the required information
- Have the document notarized if required
- Record with your county recorder's office
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A Rhode Island Memorandum of Purchase and Sale Agreement is a document that once recorded in the land records provides public notice of an existing purchase and sale agreement for real property without disclosing sensitive details like price or contingencies.
Purpose:
• Protects Buyer’s Interest: Notifies third parties (e.g., lenders, potential buyers) of the buyer’s contractual rights, preventing the seller from selling or encumbering the property.
• Privacy: Keeps the full purchase and sale agreement’s terms confidential.
• Facilitates Financing: Provides proof of a contract for lenders or title companies.
Common Scenarios:
• Delayed Closings: Used when closing is postponed (e.g., awaiting zoning, environmental approvals, or permits), common in commercial or development deals.
• Seller-Financed Sales/Purchase and Sales Agreements: Secures the buyer’s interest during installment payments before deed transfer.
• Option Agreements: Notifies others of a buyer’s option or right of first refusal.
• Investment Transactions: Protects the buyer’s stake before full payment or improvements.
Key Features
• Legal Authority: Recordable under R.I. Gen. Laws §34-13-1 and §34-13-2 as an instrument affecting title.
• Requirements: Must be written, signed, notarized, and include a property description. Recorded at the city/town clerk’s office.
• Limitations: Does not transfer title, create a lien, or trigger conveyance tax/residency affidavits.
• For use in Rhode Island only.
Important: County-Specific Forms
Our memorandum of purchase and sales agreement forms are specifically formatted for each of the 5 counties in Rhode Island.
After selecting your county, you'll receive forms that meet all local recording requirements, ensuring your documents will be accepted without delays or rejection fees.