Certificate of payments and satisfaction
Sec. 7. If a mortgage has been paid and satisfied by the mortgagor,
the mortgagor may take a certificate of satisfaction, duly
acknowledged by the mortgagee or the mortgagee's lawful agent, as
required for the acknowledgment of conveyances to entitle them to
be recorded. The certificate and acknowledgment shall be recorded
by the recorder in whose office the mortgage is recorded, with a
reference to the location of the record of the mortgage. The recorded
certificate discharges and releases the mortgagor from the mortgage
(or portion of the mortgage as indicated in a partial satisfaction), and
bars all suits and actions on the mortgage.
As added by P.L.2-2002, SEC.14.
Last modified: May 24, 2006