§ 45-915 — MORTGAGE — SATISFACTION — FAILURE TO RELEASE OF RECORD — PENALTY

When any mortgage, affecting the title to real property, has been satisfied, the holder thereof or his assignee must immediately, on the demand of the mortgagor, purchaser, or the successor in interest of either, execute, acknowledge, and deliver to him a certificate of the discharge thereof so as to entitle it to be recorded, or he must enter satisfaction or cause satisfaction of such mortgage or affecting the title to real property, to be entered of record; and any holder, or assignee of such holder, who refuses to execute, acknowledge, and deliver to the mortgagor, purchaser, or the successor in interest of either, the certificate of discharge, or to enter satisfaction, or cause satisfaction of the mortgage to be entered, as provided in this chapter, is liable to the mortgagor, purchaser, or his grantee or heirs, for all damages which he or they may sustain by reason of such refusal, and shall also forfeit to him or them the sum of $100.

Legislative History

[(45-915) 1863, p. 528, sec. 39; R.S., sec. 3364; reen. R.C. & C.L., sec. 3402; C.S., sec. 6369; I.C.A., sec. 44-815; am. 1943, ch. 100, sec. 1, p. 194; am. 1967, ch. 272, sec. 18, p. 745.]