§ 32-29-6-9 — Certificate of release

An officer or appointed agent of a title
insurance company may, on behalf of a mortgagor or a person who
acquired from the mortgagor a lien against all or part of the property
described in a mortgage, execute a certificate of release that complies
with the requirements of this chapter and record the certificate of
release in the real property records of each county in which the
mortgage is recorded if:
(1) a satisfaction or release of the mortgage has not been executed
and recorded within sixty (60) days after the date payment in full
of the loan secured by the mortgage was sent in accordance with
a payoff statement furnished by the mortgagee or the mortgage
servicer; and
(2) the title insurance company, an officer of the title insurance
company, or an agent of the title insurance company has sent to
the last known address of the mortgagee or the mortgage servicer,
at least thirty (30) days before executing the certificate of release,
written notice of its intention to execute and record a certificate
of release in accordance with this section after the expiration of
the sixty (60) day period.
[Pre-2002 Recodification Citation: 32-8-15.5-9.]

Legislative History

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