700.370. Satisfaction of lien or encumbrance, release of, procedure.
Satisfaction of lien or encumbrance, release of, procedure.
700.370. Upon the satisfaction of a lien or encumbrance on amanufactured home, the lienholder shall, within ten days after demand,release the lien or encumbrance on the certificate or a separate document,and mail or deliver the certificate or separate document to the owner orany person who delivers to the lienholder an authorization from the ownerto receive the certificate or separate document. Each perfectedsubordinate lienholder, if any, shall release such lien or encumbrance asprovided in this section for the first lienholder. The release on thecertificate or separate document shall be notarized. The owner may causethe certificate of title, the release, and the required fee to be mailed ordelivered to the director of revenue, who shall release the lienholder'srights on the certificate and issue a new certificate of title.
(L. 1985 S.B. 152 § 700.170, A.L. 2002 H.B. 2008 merged with S.B. 895)Effective 8-28-02 (H.B. 2008)
7-01-03 (S.B. 895)