In general a lender has 15 days once notified to release a mortgage to avoid penalty.

((1) a sum not to exceed five hundred dollars ($500) for the failure, neglect, or refusal of the owner, holder, or custodian to:
(A) release;
(B) discharge; and
(C) satisfy of record the mortgage or lien; and
(2) costs and reasonable attorney's fees incurred in enforcing the release, discharge, or satisfaction of record of the mortgage or lien.
(c) If the court finds in favor of a plaintiff who files an action to recover damages under subsection (b), the court shall award the plaintiff the costs of the action and reasonable attorney's fees as a part of the judgment.
(d) The court may appoint a commissioner and direct the commissioner to release and satisfy the mortgage, mechanic's lien, judgment, or other lien. The costs incurred in connection with releasing and satisfying the mortgage, mechanic's lien, judgment, or other lien shall be taxed as a part of the costs of the action. (e) The owner, holder, or custodian, by virtue of having recorded the mortgage, mechanic's lien, judgment, or other lien in Indiana, submits to the jurisdiction of the courts of Indiana as to any action arising under this section.) (IC 32-28-1-2 (b)(1))

IC 32-29-1-6 Payment in full; release and discharge of mortgage
Sec. 6. After a mortgagee of property whose mortgage has been recorded has received full payment from the mortgagor of the sum specified in the mortgage, the mortgagee shall, at the request of the mortgagor, enter in the record of the mortgage that the mortgage has been satisfied. An entry in the record showing that a mortgage has been satisfied operates as a complete release and discharge of the mortgage.

((a) It is lawful for:
(1) the president, vice president, cashier, secretary, treasurer, attorney in fact, or other authorized representative of a national bank, state bank, trust company, or savings bank; or
(2) the president, vice president, general manager, secretary, treasurer, attorney in fact, or other authorized representative of any other corporation doing business in Indiana;
to release upon the record mortgages, judgments, and other record liens upon the payment of the debts secured by the liens.) (IC 32-29-5-1)

(Indiana Mortgage Release Package includes form, guidelines, and completed example) For use in Indiana only.

How to Use This Form

Select your county from the list above
Download the county-specific form
Fill in the required information
Have the document notarized if required
Record with your county recorder's office

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Common Uses for Full Release of Mortgage

Release collateral after a commercial loan is paid off
Release a property from a deed of trust after loan payoff
Release a lien after a debt has been paid in full
Replace a trustee who is unable or unwilling to serve
Record a deed of trust to secure a promissory note
Document the satisfaction or payoff of a mortgage

Compare other Indiana deed forms and documents

Quitclaim Deed Gift Deed Warranty Deed Special Warranty Deed Grant Deed Correction Deed Easement Deed Termination, Cancellation of Easement / Right of Way Mineral Deed Mineral Deed with Quitclaim Covenants Transfer on Death Deed Transfer on Death Deed Revocation Transfer on Death Deed Beneficiary Affidavit General Durable Power of Attorney Limited Power of Attorney for Real Property Mortgage Secured by Promissory Note Contract for the Sale of Real Estate Installment Contract for Sale of Real Estate Memorandum of Contract Full Release of Memorandum of Contract Affidavit of Surviving Joint Tenant Affidavit of Surviving Spouse Trustee Deed without Warranty Trustee Deed with Warranty Personal Representative Deed for Distribution Personal Representative Deed for Sale Notice of Furnishing Notice of Intention to Hold Lien Mechanics Lien Partial Lien Waiver Final Lien Waiver Satisfaction of Lien Lis Pendens Notice Release of Lis Pendens Notice Disclaimer of Interest Certificate of Trust

Important: County-Specific Forms

Our full release of mortgage forms are specifically formatted for each county in Indiana.

After selecting your county, you'll receive forms that meet all local recording requirements, ensuring your documents will be accepted without delays or rejection fees.

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