2002 Signature 2002 Veto 2002 No Action 2001 Veto 2001 No Action 2000 Signature 2000 Veto 2000 No Action 1999 Signature 1999 Veto 1998 Signature 1998 Veto 1998 No Action 1997 Signature 1997 Veto 1996 Signature 1996 Veto 1995 Signature 1995 Veto 1995 No Action		July 11, 2001 TO THE HONORABLE, THE SENATE: In accordance with the provisions of Rhode Island General Laws § 43-1-4, I am transmitting herewith, with my disapproval, 2001-S 0432 As Amended, "An Act Relating to Courts and Civil Procedure - Levy and Sale on Executions." This bill would reduce the period of time after which a recorded execution is discharged as a matter of law. It would do so by shortening the current period for such a discharge from twenty years from the date of judgment to six years. This bill would produce an inconsistent and inequitable result. The current rime frame for the discharge of a lien - twenty years from the date of judgment - is consistent with the life of the underlying judgment. The lien is meant to run with the judgment; there is no just reason for creating an inconsistency between the two. Moreover, reducing the length of time in which a Judgment creditor can execute on a judgment may cause creditors to institute foreclosure proceedings more quickly. That is because this bill does not provide any method for continuing the six-year lien during the twenty-year period in which the underlying judgment is valid. A judgment creditor's equitable position in the subject real estate could be jeopardized by, and in fact, subordinated to, subsequent judgments. In short, this bill favors debtors at the expense of judgment creditors - an unfair and unnecessary outcome. For the foregoing reasons, I disapprove of this legislation and respectfully urge your support of this veto. Sincerely, Lincoln Almond Governor