Iowa Administrative Code
Agency 265 - Iowa Finance Authority
Chapter 9 - Title Guaranty Division
Rule 265-9.9 - Mortgage Release Certificate
Current through Register Vol. 47, No. 13, December 25, 2024
Pursuant to Iowa Code section 16.92, the division is charged with the administration of a program to release, after proper notification, paid-off mortgages from real estate titles in Iowa by executing and filing with the county recorder a mortgage release certificate.
(1) Application. The division shall provide a mortgage release application at the office of the division and on the division's Web site. The following may submit an application for a mortgage release certificate:
(2) Application fee. An applicant may be required to pay a fee to apply for a mortgage release certificate. The fee shall be set by the division.
(3) Maximum principal amount of mortgage. The division board may set a maximum principal amount for mortgages that may be released by a mortgage release certificate.
(4) Authority to sign certificate. A mortgage release certificate shall be executed by the division director or designee of the division director.