Indiana Code 32-33-19-1. Release, discharge, and satisfaction
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Sec. 1. Unless otherwise provided in this article, if the debt or obligation, including interest on the debt or obligation, that a lien on personal property 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 32-33-19-1
- Lien: A claim against real or personal property in satisfaction of a debt.
- 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.18. Amended by P.L.1-2003, SEC.87.