Indiana § 32-28-1-2 Forfeiture; commissioner to release and satisfy lien

Indiana Statutes

§ 32-28-1-2 — Forfeiture; commissioner to release and satisfy lien

Indiana·Title 32 PROPERTY·Art. 28 LIENS ON REAL PROPERTY·Ch. 1 Record of Liens; Duty to Satisfy Record After Release

(a)This section applies if:

(1)the mortgagor or another person having the right to demand the release of a mortgage or lien makes a written demand, sent by registered or certified mail with return receipt requested, to the owner, holder, or custodian to release, discharge, and satisfy of record the mortgage, mechanic's lien, judgment, or other lien; and

(2)the owner, holder, or custodian fails, neglects, or refuses to release, discharge, and satisfy of record the mortgage, mechanic's lien, judgment, or other lien as required under section 1 of this chapter not later than fifteen (15) days after the date the owner, holder, or custodian receives the written demand.

(b)An owner, holder, or custodian shall forfeit and pay to the mortgagor or other person having the right to demand the rele

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(a) This section applies if:
(1) the mortgagor or another person having the right to demand
the release of a mortgage or lien makes a written demand, sent by
registered or certified mail with return receipt requested, to the
owner, holder, or custodian to release, discharge, and satisfy of
record the mortgage, mechanic's lien, judgment, or other lien; and
(2) the owner, holder, or custodian fails, neglects, or refuses to
release, discharge, and satisfy of record the mortgage, mechanic's
lien, judgment, or other lien as required under section 1 of this
chapter not later than fifteen (15) days after the date the owner,
holder, or custodian receives the written demand.
(b) An owner, holder, or custodian shall forfeit and pay to the
mortgagor or other person having the right to demand the release of the
mortgage or lien:
(1) a sum not to exceed five hundred dollars ($500) for the
failure, neglect, or refusal of the owner, holder, or custodian to:
(A) release;
(B) discharge; and
(C) satisfy of record the mortgage or lien; and
(2) costs and reasonable attorney's fees incurred in enforcing the
release, discharge, or satisfaction of record of the mortgage or
lien.
(c) If the court finds in favor of a plaintiff who files an action to
recover damages under subsection (b), the court shall award the
plaintiff the costs of the action and reasonable attorney's fees as a part
of the judgment.
(d) The court may appoint a commissioner and direct the
commissioner to release and satisfy the mortgage, mechanic's lien,
judgment, or other lien. The costs incurred in connection with releasing
and satisfying the mortgage, mechanic's lien, judgment, or other lien
shall be taxed as a part of the costs of the action.
(e) The owner, holder, or custodian, by virtue of having recorded the
mortgage, mechanic's lien, judgment, or other lien in Indiana, submits
to the jurisdiction of the courts of Indiana as to any action arising under
this section.
[Pre-2002 Recodification Citation: 32-8-1-2.]

Indiana § 32-28-1-2 (Forfeiture; commissioner to release and satisfy lien) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.