655.1 Written instrument acknowledging satisfaction. When the amount due on a mortgage is paid off, the mortgagee, the mortgagee’s personal representative or assignee, or those legally acting for the mortgagee, and in case of paymentof a school fund mortgage the county auditor, within thirty days of payment in full, shallacknowledge satisfaction thereof by execution of an instrument of satisfaction which is inwriting, refers to the mortgage, and is duly acknowledged and recorded. Notwithstandingthe foregoing, if the mortgage secures a revolving line of credit, future advances, or otherfuture obligations, the mortgagee is not required to file a satisfaction upon payment in fullunless the mortgagor makes a written request to the mortgagee that the mortgage be releasedand, if such written request is made, the mortgagee shall file the release within thirty daysafter payment in full or such written request is made whichever occurs later. [C51, §2093; R60, §3670; C73, §3327; C97, §4295; C24, 27, 31, 35, 39, §12384; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §655.1] 2018 Acts, ch 1036, §2Referred to in §331.502, 655.3Duty of recorder, §558.45 Sat Dec 23 12:22:30 2023 Iowa Code C24, 27, 31, 35, 39, §12384; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §655.1] 2018 Acts, ch 1036, §2Referred to in §331.502, 655.3Duty of recorder, §558.45 Sat Dec 23 12:22:30 2023 Iowa Code 2024, Section 655.1 (15, 0)
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