Iowa Code (Last Updated: December 05, 2016) |
Title XV. JUDICIAL BRANCH AND JUDICIAL PROCEDURES |
Chapter 655. SATISFACTION OF MORTGAGES |
Section 655.3. Penalty for failure to discharge.
Latest version.
-
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 within thirty days after a request for discharge, the mortgagee is liable to the mortgagor and the mortgagor’s heirs or assigns, for all actual damages caused by such failure, including reasonable attorney fees. A claim for such damages may be asserted in an action for discharge of the mortgage. If the defendant is not a resident of this state, such action may be maintained upon the expiration of thirty days after the conditions of the mortgage have been performed, without such previous request or tender.