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Current as of January 01, 2024 | Updated by Findlaw Staff
(1) Subject to subsection (2), when a lien authorized under this chapter is paid and satisfied or the claim upon which it is based has been found invalid by final order or judgment of a court of competent jurisdiction, the creditors shall acknowledge satisfaction within 30 days and discharge the lien of record by filing a release of the lien in the office of the county clerk and recorder in each county in which the notice of lien was filed. If any creditor fails to acknowledge satisfaction, the creditor is liable to any person injured by the failure for a civil penalty of $100, plus any other damages provided by law.
(2) If the owner of the property against which a lien is filed pays the underlying claim before an action is filed on that claim or to foreclose the lien, the owner of the property against which the lien was filed shall pay the lienholder's costs and attorney fees incurred for filing and recording the lien before the lien may be released.
Cite this article: FindLaw.com - Montana Title 71. Mortgages, Pledges, and Liens § 71-3-131. Acknowledgment of lien satisfaction--penalty - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-71-mortgages-pledges-and-liens/mt-st-71-3-131/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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