Bill > HSB295

Introduced Session

Under current law, when a security interest in a snowmobile, all-terrain vehicle, or vessel as defined in Code section 462A.2, is discharged, the holder is required to note the cancellation of the security interest on the face of the certificate of title and send the title by first class mail to the office of the county recorder where the title was issued, or the secured party must send a notarized letter by first class mail to the county recorder where the title was issued notifying the county recorder of the cancellation of the security interest. The county recorder must note the release of the security interest in the county records as evidence of H.F. _____ the release of the security interest. This bill authorizes proof of a release of a lien on a snowmobile, all-terrain vehicle, or vessel to be presented to the county recorder of any county, and requires a county recorder to note the release on the face of the certificate of title and enter the release on the statewide computer system accessible by every county recorder. A similar provision exists under current law for county treasurers noting the release of liens on motor vehicles.

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Other Sponsors (1)

Committee report approving bill, renumbered as HF 894. (on 03/07/2025)

Official Document