Indiana Code
Chapter 2. Release of Certain Mortgages to State or State Trust Funds
4-11-2-2. School Fund Mortgages; Examination of Records

Sec. 2. (a) Because there exists in recorder's offices in various counties a large number of school fund mortgages that:
(1) appear unsatisfied of record; and
(2) have been paid;
the county auditor of any county where the mortgaged lands are situated, when requested by the mortgagor or owner of the mortgaged lands, shall examine the ledgers or other records of the county auditor's office and compare the records with the receipts of money for school fund mortgages in the treasurer's office of the county.
(b) If, upon the examination and comparison, and according to all facts that are known to the county auditor, or that come to the county auditor's knowledge, the county auditor finds that a mortgage in the recorder's office of the county that appears unsatisfied of record has been paid, the county auditor shall make an entry of satisfaction upon the margin of the record in the recorder's office, showing the mortgage as paid.
(c) The mortgagor or owner of the lands shall pay to the county auditor a fee of twenty-five cents ($0.25) for services provided under this section. The mortgagor or owner shall also pay to the recorder the county recorder's fee provided for releasing mortgages.
[Pre-2006 Education Finance Recodification Citation: 21-1-20-1.]
As added by P.L.2-2006, SEC.4.

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