655.3 - PENALTY FOR FAILURE TO DISCHARGE. - Iowa Statutes

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 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.          Section History: Recent Form 99 Acts, ch 54, §2