33-712. Liability for failure to acknowledge
satisfaction
A. If any person receiving satisfaction of a mortgage or deed of trust shall,
within thirty days, fail to record or cause to be recorded, with the recorder of the
county in which the mortgage or deed of trust was recorded, a sufficient release,
satisfaction of mortgage or deed of release or acknowledge satisfaction as provided in
section 33-707, subsection C, he shall be liable to the mortgagor, trustor or current
property owner for actual damages occasioned by the neglect or refusal.
B. If, after the expiration of the time provided in subsection A of this section,
the person fails to record or cause to be recorded a sufficient release and continues to
do so for more than thirty days after receiving a written request which identifies a
certain mortgage or deed of trust by certified mail from the mortgagor, trustor, current
property owner or his agent, he shall be liable to the mortgagor, trustor or current
property owner for one thousand dollars, in addition to any actual damage occasioned by
the neglect or refusal.
C. Any action to enforce the provisions of this section, including any action to
recover amounts due under this section, shall be brought and maintained in the individual
names of, and shall be prosecuted by, persons entitled to recover under the terms
thereof, and not in a representative capacity or otherwise. This subsection shall apply
to all actions under this section, whether brought before or after July 13, 1988.
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