655.3 Penalty for failure to discharge.
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 as set forth in section 655.1, the mortgagee is liable to the mortgagor and the mortgagor’s heirs or assigns, for all actual damages caused by such failure and a penalty of five hundred dollars, plus reasonable attorney fees. A claim for such damages may be asserted in an action for discharge of the mortgage.
99 Acts, ch 54, §2; 2018 Acts, ch 1036, §3
Referred to in §655.6
Structure Iowa Code
Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES
Chapter 655 - SATISFACTION OF MORTGAGES
Section 655.1 - Written instrument acknowledging satisfaction.
Section 655.2 - Penalty — attorney fees.
Section 655.3 - Penalty for failure to discharge.
Section 655.4 - Entry of foreclosure.