Indiana Statutes
§ 32-29-6-13 — Misstatement in written payoff statement
A creditor or mortgage servicer may not
withhold the release of a mortgage if the written mortgage payoff
statement misstates the amount of the payoff and the written payoff is
relied upon in good faith by an independent closing agent without
knowledge of the misstatement. It is not a misstatement if the written
payoff statement is not accurate as a result of a change in
circumstances occurring after the issuance of the payoff statement. The
release of a mortgage does not affect the ability of the creditor or
mortgage servicer to collect the full amount owed without regard to a
misstatement in the written payoff statement and a release of the
mortgage.
[Pre-2002 Recodification Citation: 32-8-15.5-13.]
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Legislative History
As added by P.L.2-2002, SEC.14.
Nearby Sections
15
§ 32-16-1-1
"Prior property law"§ 32-16-1-2
Purpose of recodification§ 32-16-1-3
Statutory construction of recodification§ 32-16-1-4
Effect of recodification§ 32-16-1-5
Recodification of prior property law§ 32-16-1-6
References to repealed statutes§ 32-16-1-7
References to citations§ 32-16-1-8
References to prior rules§ 32-16-1-9
References to prior property law§ 32-17-1-1
"Grantor"§ 32-17-1-2
Fee simple conveyance§ 32-17-1-3
Estates tail; abolition§ 32-17-1-4
Lineal and collateral warranties; abolition§ 32-17-10-1
Application of chapter