Certificate of release
Sec. 9. An officer or appointed agent of a title insurance company
may, on behalf of a mortgagor or a person who acquired from the
mortgagor a lien against all or part of the property described in a
mortgage, execute a certificate of release that complies with the
requirements of this chapter and record the certificate of release in
the real property records of each county in which the mortgage is
recorded if:
(1) a satisfaction or release of the mortgage has not been
executed and recorded within sixty (60) days after the date
payment in full of the loan secured by the mortgage was sent in
accordance with a payoff statement furnished by the mortgagee
or the mortgage servicer; and
(2) the title insurance company, an officer of the title insurance
company, or an agent of the title insurance company has sent to
the last known address of the mortgagee or the mortgage
servicer, at least thirty (30) days before executing the certificate
of release, written notice of its intention to execute and record
a certificate of release in accordance with this section after the
expiration of the sixty (60) day period.
As added by P.L.2-2002, SEC.14.
Last modified: May 24, 2006