An assignment of or an agreement affecting any rights or interests of a landlord or owner of premises occupied by a tenant or person planting on shares, or an agreement to subordinate a prior lien or encumbrance on real property, may be recorded in the land records in the office of the clerk of the town in which the premises are situated, and the clerk shall in each case enter a reference to the record of the subordination agreement on the margin of the record of the instrument affected thereby. Any agreement herein provided for shall be valid and enforceable against the party executing the agreement from the time of execution and delivery thereof and against all creditors of the party and all persons claiming under or through the party from the time of the recording thereof.
History of Section.
P.L. 1935, ch. 220, § 4; G.L. 1938, ch. 443, § 4; G.L. 1956, § 34-24-8; P.L. 1960, ch. 147, § 3.