§ 4-11-2-2 — School fund mortgages; examination of records

(a) Because there exists in recorder's offices in
various counties a large number of school fund mortgages that:
(1) appear unsatisfied of record; and
(2) have been paid;
the county auditor of any county where the mortgaged lands are
situated, when requested by the mortgagor or owner of the mortgaged
lands, shall examine the ledgers or other records of the county auditor's
office and compare the records with the receipts of money for school
fund mortgages in the treasurer's office of the county.
(b) If, upon the examination and comparison, and according to all
facts that are known to the county auditor, or that come to the county
auditor's knowledge, the county auditor finds that a mortgage in the
recorder's office of the county that appears unsatisfied of record has
been paid, the county auditor shall make an entry of satisfaction upon
the margin of the record in the recorder's office, showing the mortgage
as paid.
(c) The mortgagor or owner of the lands shall pay to the county
auditor a fee of twenty-five cents ($0.25) for services provided under
this section. The mortgagor or owner shall also pay to the recorder the
county recorder's fee provided for releasing mortgages.
[Pre-2006 Education Finance Recodification Citation:
21-1-20-1.]

Legislative History

As added by P.L.2-2006, SEC.4.