(a) Except as otherwise provided in subsection (b), a satisfaction agent or any other person who executes an affidavit of satisfaction of a security instrument erroneously or as a result of negligence or non-compliance with this article is liable to the secured creditor for any actual economic damages caused by the recording of the satisfaction.
(b) This article does not apply to the liability of a satisfaction agent who executes an affidavit of satisfaction of a security instrument erroneously as a result of wantonness, recklessness, or deliberate misconduct, nor does this article apply to the liability of a person other than a satisfaction agent who erroneously executes an affidavit of satisfaction.
Structure Code of Alabama
Article 5 - Alabama Residential Mortgage Satisfaction Act.
Section 35-10-90 - Short Title; Application; Definitions.
Section 35-10-91 - Payoff Statement; Notice.
Section 35-10-92 - Submission of a Satisfaction of a Security Instrument for Recording.
Section 35-10-93 - Service as a Satisfaction Agent.
Section 35-10-94 - Notification by Satisfaction Agent to Secured Creditor.
Section 35-10-95 - Conditions for Satisfaction Agent to Sign and Submit Affidavit for Recording.
Section 35-10-96 - Affidavit of Satisfaction Requirements.