Indiana Code 32-29-11-1. Duty to release and record the satisfaction of discharged obligation
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Sec. 1. Unless otherwise provided in this article, if the debt or obligation, and the interest on the debt or obligation, that a mortgage secures has been fully paid, lawfully tendered, and discharged, the owner, holder, or custodian of the mortgage shall:
(2) discharge; and
(1) release;
Terms Used In Indiana Code 32-29-11-1
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(3) satisfy of record;
the mortgage as provided in IC 32-28-1.
[2002 Recodification Citation: New.]
As added by P.L.2-2002, SEC.14.