Utah · Utah Code §§57-1-38, 57-1-40Utah release after payoff: 90 days, and the title company's reconveyance

In Utah, a secured lender – a mortgagee, a trust deed beneficiary or another holder of a security interest in real property – or its servicer that fails to release the security interest within 90 days after receiving the final payment is liable to the owner or titleholder, or another secured lender on the property, for the greater of $1,000 or treble the actual damages caused, including the expenses of a quiet title action, plus reasonable attorney's fees and court costs (Utah Code §57-1-38(3)). It isn't liable if it has a reasonable procedure for timely releases, followed it in good faith, and missed the 90 days because of an agency or other person beyond its control (§57-1-38(4)). A lender on a revolving credit line must close the line and release the security interest when it receives payment in full from a third party in a sale or loan, together with that third party's payoff request or a written request to close the line (§57-1-38(5)). A title insurer or title agent that paid the obligation, or has satisfactory evidence it was paid, may deliver a notice of intent to release or reconvey; if within 60 days no release is recorded and no certified-mail objection arrives, it may execute and record the reconveyance or release itself (§57-1-40).