§ 32-29-6-16 — Erroneous certificate of release

Indiana § 32-29-6-16

• Jurisdiction: Indiana
• Title 32: PROPERTY
• Art. 29: MORTGAGES
• Ch. 6: Mortgage Release by Title Insurance Companies

Text

(a) The execution and recording of a
wrongful or erroneous certificate of release by a title insurance
company or a duly appointed agent with authority from a title insurance
company does not relieve the mortgagor, or anyone succeeding to or
assuming the interest of the mortgagor, from any liability for the debt
or other obligations secured by the mortgage that is the subject of the
wrongful or erroneous certificate of release.
(b) Additionally, a title insurance company or an appointed agent
with authority from a title insurance company that wrongfully or
erroneously executes and records a certificate of release is liable to the
mortgagee, or the assignee of the mortgagee if the mortgage has been
assigned, for actual damages sustained due to the recording of a
wrongful or erroneous certificate of release.
[Pre-2002 Recodification Citation: 32-8-15.5-16.]

Legislative History

As added by P.L.2-2002, SEC.14.