Sec. 49-8. Release of satisfied or partially satisfied mortgage or ineffective attachment, lis pendens or lien. Damages.

460 words·~2 min read·/ct/title-49/chapter-846-mortgages/49-8

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(a)(1) The mortgagee or a person authorized by law to release the mortgage shall execute and deliver, or cause to be delivered, to the town clerk of the town in which the real estate is situated or, if so requested in writing by the mortgagor or a designated representative of the mortgagor, to the mortgagor or the designated representative of the mortgagor, a release to the extent of the satisfaction tendered before or against receipt of the release:

(A)Upon the satisfaction of the mortgage;

(B)upon a bona fide offer to satisfy the mortgage in accordance with the terms of the mortgage deed upon the execution of a release;

(C)when the parties in interest have agreed in writing to a partial release of the mortgage where that part of the property securing the partially satisfied mortgage is sufficiently definite and certain; or

(D)when the mortgagor has made a bona fide offer in accordance with the terms of the mortgage deed for such partial satisfaction on the execution of such partial release.

(2)If a release is not delivered to the mortgagor or a designated representative of the mortgagor in accordance with subdivision

(1)of this subsection, the mortgagee or a person authorized by law to release the mortgage shall deliver a copy of such release to the mortgagor concurrently with the delivery of such release to the town clerk.

(b)The plaintiff or the plaintiff's attorney shall execute and deliver a release when an attachment has become of no effect pursuant to section 52-322 or section 52-324 or when a lis pendens or other lien has become of no effect pursuant to section 52-326 .

(c)The mortgagee or plaintiff or the plaintiff's attorney, as the case may be, shall execute and deliver a release within sixty days from the date a written request for a release of such encumbrance

(1)was sent to such mortgagee, plaintiff or plaintiff's attorney at the person's last-known address by registered or certified mail, postage prepaid, return receipt requested, or

(2)was received by such mortgagee, plaintiff or plaintiff's attorney from a private messenger or courier service or through any means of communication, including electronic communication, reasonably calculated to give the person the written request or a copy of it. The mortgagee or plaintiff shall be liable for damages to any person aggrieved at the rate of two hundred dollars for each week after the expiration of such sixty days up to a maximum of five thousand dollars or in an amount equal to the loss sustained by such aggrieved person as a result of the failure of the mortgagee or plaintiff or the plaintiff's attorney to execute and deliver a release, whichever is greater, plus costs and reasonable attorney's fees.