Bill Text: IA SF358 | 2013-2014 | 85th General Assembly | Enrolled
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: A bill for an act concerning title to real estate. (Formerly SSB 1220.) Effective 7-1-13.
Spectrum: Committee Bill
Status: (Passed) 2013-12-31 - END OF 2013 ACTIONS [SF358 Detail]
Download: Iowa-2013-SF358-Enrolled.html
Bill Title: A bill for an act concerning title to real estate. (Formerly SSB 1220.) Effective 7-1-13.
Spectrum: Committee Bill
Status: (Passed) 2013-12-31 - END OF 2013 ACTIONS [SF358 Detail]
Download: Iowa-2013-SF358-Enrolled.html
Senate
File
358
AN
ACT
CONCERNING
TITLE
TO
REAL
ESTATE.
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
Section
1.
Section
558.5,
Code
2013,
is
amended
to
read
as
follows:
558.5
Contract
for
deed
——
presumption
of
abandonment.
1.
When
the
record
shows
that
a
contract
or
bond
for
a
deed
has
been
was
executed
more
than
ten
years
earlier,
and
the
record
discloses
no
performance
of
the
same
and
that
more
than
ten
years
have
elapsed
since
the
contract
by
its
terms
was
to
Senate
File
358,
p.
2
be
performed,
the
contract
or
bond
shall
be
deemed
abandoned
by
the
vendee
and
of
no
effect
void
and
the
land
shall
be
freed
from
any
lien
or
defect
on
account
of
the
contract
or
bond
in
any
of
the
following
situations:
a.
The
record
does
not
indicate
the
contract
or
bond
has
been
performed
and
more
than
ten
years
have
elapsed
since
the
contract
or
bond
by
its
terms
was
to
be
performed
.
b.
A
performance
date
for
the
contract
or
bond
is
not
stated
in
the
contract
or
bond
or
any
extensions
thereof
and
more
than
twenty
years
have
elapsed
from
the
date
the
contract
or
bond
was
executed.
2.
On
and
after
July
1,
1992,
this
This
section
shall
apply
to
a
contract
or
bond
described
in
this
section
,
if
the
contract
or
bond
is
not
filed
of
record
but
is
referred
to
in
another
instrument
which
is
filed
of
record.
The
contract
or
bond
shall
be
deemed
abandoned
by
the
vendee
ten
years
from
the
date
that
the
contract
or
bond
is
to
be
performed
according
to
the
recorded
instrument.
However,
if
the
recorded
instrument
does
not
refer
to
a
performance
date
for
the
contract
or
bond,
the
contract
or
bond
shall
be
deemed
abandoned
ten
twenty
years
after
the
date
that
the
instrument
containing
the
reference
is
recorded.
3.
This
section
shall
not
apply
to
a
vendee
or
a
vendee’s
successor
in
interest
if
the
vendee
or
the
vendee’s
successor
in
interest
is
in
possession
of
the
property
or
has
been
continuously
paying
the
total
amount
due,
as
defined
in
section
445.1,
of
the
taxes
levied
against
the
property
for
the
preceding
five
years.
Sec.
2.
Section
614.21,
Code
2013,
is
amended
to
read
as
follows:
614.21
Foreclosure
of
ancient
mortgages.
1.
No
An
action
shall
be
maintained
to
foreclose
or
enforce
any
real
estate
mortgage,
bond
for
deed,
trust
deed,
or
contract
for
the
sale
or
conveyance
of
real
estate,
after
twenty
years
from
the
date
thereof,
as
shown
by
the
record
of
such
instrument,
shall
be
barred,
unless
the
either
of
the
following:
a.
The
record
of
such
instrument
shows
that
less
than
ten
years
have
elapsed
since
the
date
of
maturity
of
the
indebtedness
or
part
thereof,
secured
thereby,
or
since
the
right
of
action
has
accrued
thereon,
or
unless
the
.
b.
The
record
shows
an
extension
of
the
maturity
of
the
instrument
or
of
the
debt
or
a
part
thereof,
and
that
ten
years
Senate
File
358,
p.
3
from
the
expiration
of
the
time
of
such
extension
have
not
yet
expired.
2.
The
date
of
maturity,
when
different
than
as
appears
by
the
record
of
the
instrument,
and
the
date
of
maturity
of
any
extension
of
said
indebtedness
or
part
thereof,
may
be
shown
at
any
time
prior
to
the
expiration
of
the
above
periods
of
limitation
specified
in
subsection
1
by
the
holder
of
the
debt
or
the
owner
or
assignee
of
the
instrument
filing
an
extension
agreement,
duly
acknowledged
as
the
original
instrument
was
required
to
be
acknowledged,
in
the
office
of
the
recorder
where
the
instrument
is
recorded.
3.
From
and
after
July
4,
1946,
this
This
section
shall
also
apply
to
any
instrument
of
the
kind
described
in
this
section
which
is
not
of
record
but
which
is
described
or
referred
to
in
any
other
instrument
which
is
filed
of
record
and
the
.
The
limitation
shall
be
ten
years
from
the
due
date
of
the
instrument
referred
to
if
disclosed
in
the
record
and
,
if
not
so
disclosed
,
then
within
ten
years
from
the
date
of
the
record
of
the
instrument
containing
such
reference
is
recorded
.
4.
a.
A
vendee
of
a
real
estate
contract
or
bond
for
deed,
the
vendor
of
which
is
barred
by
this
section
from
maintaining
an
action
to
foreclose
or
enforce
the
contract
or
bond,
or
a
vendee
who
is
entitled
to
immediate
issuance
of
a
deed
in
fulfillment
of
contract
or
bond
and
who
is
in
physical
possession
of
the
property,
may
serve
the
vendor
with
a
demand
for
a
deed
as
provided
in
the
contract.
For
purposes
of
this
subsection,
“vendee”
includes
a
vendee’s
successor
in
interest.
The
notice
may
be
served
personally
or
by
publication,
on
the
same
conditions,
and
in
the
same
manner
as
is
provided
for
the
service
of
original
notices,
except
that
when
the
notice
is
served
by
publication
an
affidavit
shall
not
be
required
before
publication.
Service
by
publication
shall
be
deemed
complete
on
the
day
of
the
last
publication.
Service
may
be
made
on
a
judgment
creditor
of
the
deceased
vendor
or
any
other
person
who
is,
as
a
matter
of
record,
interested
in
the
estate
of
a
deceased
vendor,
in
the
manner
provided
in
section
654.4A,
subsections
4
and
5.
b.
The
demand
shall
state
that
if
a
deed
is
not
provided
within
forty-five
days
of
service
and
an
action
to
foreclose
or
forfeit
the
contract
has
not
been
commenced
within
such
forty-five-day
period,
the
vendee
may
file
an
affidavit
showing
service
and
compliance
with
this
subsection
whereupon
the
auditor
shall
correct
the
county
records
as
provided
in
section
Senate
File
358,
p.
4
558.67
to
indicate
that
the
rights
of
the
vendor
have
vested
in
the
vendee.
Sec.
3.
Section
656.3,
Code
2013,
is
amended
to
read
as
follows:
656.3
Service.
1.
Said
The
notice
provided
for
in
section
656.2
may
be
served
personally
or
by
publication,
on
the
same
conditions,
and
in
the
same
manner
as
is
provided
for
the
service
of
original
notices,
except
that
when
the
notice
is
served
by
publication
no
an
affidavit
therefor
shall
not
be
required
before
publication.
Service
by
publication
shall
be
deemed
complete
on
the
day
of
the
last
publication.
2.
The
notice
provided
for
in
section
656.2
may
be
served
on
a
judgment
creditor
of
a
deceased
vendor
or
on
any
other
person
who
is,
as
a
matter
of
record,
interested
in
the
estate
of
a
deceased
vendor
in
the
manner
provided
in
section
654.4A,
subsections
4
and
5.
Sec.
4.
Section
656.9,
Code
2013,
is
amended
to
read
as
follows:
656.9
Defect
in
forfeiture
proceedings
——
limitation
of
actions.
1.
An
action
shall
not
be
commenced
after
July
1,
1992,
which
that
asserts
a
claim
against
real
estate
previously
subject
to
a
forfeiture
proceeding,
and
such
claim
is
based
upon
a
defect
in
the
forfeiture
proceeding,
in
which
the
proof
and
record
of
service
of
notice
of
forfeiture
required
by
section
656.5
has
been
filed
for
record
in
the
office
of
the
county
recorder
prior
to
July
1,
1991.
2.
a.
An
action
shall
not
be
commenced
by
a
vendee
who
is
not
in
possession
of
the
property,
or
by
a
party
to
the
forfeiture
proceeding
who
is
other
than
a
vendee
or
vendor,
that
asserts
a
claim
against
real
estate
previously
subject
to
a
forfeiture
proceeding,
and
such
claim
is
based
upon
a
defect
in
the
forfeiture
proceeding,
in
which
the
proof
and
record
of
service
of
notice
of
forfeiture
required
by
section
656.6
has
been
filed
of
record
for
more
than
ten
years.
b.
A
vendee
who
is
not
in
possession
of
the
property,
or
a
party
to
the
forfeiture
proceeding
who
is
other
than
the
vendee
or
vendor,
may
commence
an
action
described
in
paragraph
“a”
at
any
time
prior
to
July
1,
2014,
if,
as
of
June
30,
2013,
more
than
nine
years
but
ten
years
or
less
have
elapsed
since
the
proof
and
record
of
service
of
notice
of
forfeiture
required
by
section
656.6
was
filed
of
record.
Senate
File
358,
p.
5
c.
Subsection
1
and
subsection
2,
paragraph
“b”
,
and
this
paragraph
“c”
are
repealed
July
1,
2014.
______________________________
PAM
JOCHUM
President
of
the
Senate
______________________________
KRAIG
PAULSEN
Speaker
of
the
House
I
hereby
certify
that
this
bill
originated
in
the
Senate
and
is
known
as
Senate
File
358,
Eighty-fifth
General
Assembly.
______________________________
MICHAEL
E.
MARSHALL
Secretary
of
the
Senate
Approved
_______________,
2013
______________________________
TERRY
E.
BRANSTAD
Governor