Senate File 2237 - Introduced SENATE FILE BY COMMITTEE ON JUDICIARY (SUCCESSOR TO SSB 3037) A BILL FOR 1 An Act relating to the statute of limitations period for 2 executing judgments on claims for rent. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: TLSB 5700SV (3) 87 js/jh PAG LIN 1 1 Section 1. Section 615.1A, Code 2018, is amended to read as 1 2 follows: 1 3 615.1A Execution on judgment == claim for rent. 1 4 After the expiration of a period offiveten years from 1 5 the date of entry of judgment in an action on a claim for 1 6 rent, exclusive of any time during which execution on the 1 7 judgment was stayed pending a bankruptcy action or order of 1 8 court, such judgment shall be null and void, all liens shall be 1 9 extinguished, and no execution shall be issued.However, inIn 1 10 the event thatthea judgment ortheright to collectthereon 1 11in an action on a claim for rent is sold or otherwise assigned 1 12 for value to a third party other than a state or federally 1 13 chartered bank or credit union, such judgment shall be null 1 14 and void, all liens shall be extinguished, and no execution 1 15 shall be issued after the expiration of two years from the 1 16 date of entry of the judgment, exclusive of any time during 1 17 which execution on the judgment was stayed pending a bankruptcy 1 18 action or order of court. 1 19 EXPLANATION 1 20 The inclusion of this explanation does not constitute agreement with 1 21 the explanation's substance by the members of the general assembly. 1 22 Current law provides a five=year statute of limitation 1 23 period to execute a judgment on a claim for rent, exclusive of 1 24 any time during which a court stayed the judgment pending a 1 25 bankruptcy action or order of the court, provided that if the 1 26 judgment or right to collect is sold or assigned for value to 1 27 third parties other than state or federally chartered banks or 1 28 credit unions, the statute of limitation period is two years. 1 29 At the end of the applicable statute of limitation period, all 1 30 liens shall extinguish and the judgment is void. 1 31 This bill increases the five=year statute of limitation 1 32 period that a person has to collect rent pursuant to a judgment 1 33 in an action on a claim for rent to 10 years. LSB 5700SV (3) 87 js/jh