Tennessee Code 66-21-106 – Penalty for failure to release
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Terms Used In Tennessee Code 66-21-106
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
- Plaintiff: The person who files the complaint in a civil lawsuit.
- written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105
If the plaintiff, complainant, lienor or owner of any lien filed and registered pursuant to this part fails, neglects or refuses to release a lien that is satisfied, within fifteen (15) days after written demand of the defendant or lienee, such person shall be liable to the penalty prescribed for failure to release a mortgage on demand after the payment of the debt secured.