655.1 Written instrument acknowledging satisfaction. When the amount due on a mortgage is paid off, the mortgagee, the mortgagee’s personal representative or assignee, or those legally acting for the mortgagee, and in case of payment of a school fund mortgage the county auditor, within thirty days of payment in full, shall acknowledge satisfaction thereof by […]
655.2 Penalty — attorney fees. Repealed by 99 Acts, ch 54, §3.
655.3 Penalty for failure to discharge. If a mortgagee, or a mortgagee’s personal representative or assignee, upon full performance of the conditions of the mortgage, fails to discharge such mortgage as set forth in section 655.1, the mortgagee is liable to the mortgagor and the mortgagor’s heirs or assigns, for all actual damages caused by […]
655.4 Entry of foreclosure. Repealed by 2006 Acts, ch 1132, §15, 16 .
655.5 Instrument of satisfaction. When the judgment is paid in full, the mortgagee shall file with the clerk a satisfaction of judgment which shall release the mortgage underlying the action. A mortgagee who fails to file a satisfaction within thirty days of receiving a written request shall be subject to reasonable damages and a penalty […]
655.6 Limitation of liability. A mortgagee is not liable under section 655.3 if all of the following apply: 1. The mortgagee established reasonable procedures to achieve compliance with its obligations under section 655.3. 2. The mortgagee complied with that procedure in good faith. 3. The mortgagee was unable to comply with its obligations because of […]
