Title XIV, PROPERTY (Ch. 555 - 594A)

A person shall not be required to provide disclosure documents, as required in sections 557A.11 and 557A.12 , in the following cases: 1. A transfer of a time-share interval by a time-share interval owner other than a developer or a developer’s agent. 2. A disposition of units in …

1. A purchaser may at any time within five business days following the receipt of all information required in sections 557A.11 and 557A.12 rescind in writing a contract of sale without stating any reason and without any liability on the purchaser’s part. All payments made by the …

1. Unless the purchaser expressly agrees, prior to the transfer other than by deed in lieu of foreclosure of a time-share interval, to take subject to or assume a lien, the developer shall record or furnish to the purchaser releases of all liens affecting that time-share interval…

1. Violations of this chapter , unfair methods of competition, and deceptive or unfair acts or practices, in the offer or sale of a time-share are unlawful. Enforcement shall be as provided in section 714.16 . The terms “unfair methods of competition” and “deceptive or unfair act…

The developer whose project is subject to an underlying blanket lien or encumbrance shall protect nondefaulting purchasers from foreclosure by the lienholder by obtaining from the lienholder written assurances that the lienholder will not foreclose on nondefaulting purchasers. Th…

In the financing of a time-share program, the developer shall retain financial records of the schedule of payments required to be made and the payments made to any person or entity which is the holder of an underlying blanket mortgage, deed of trust, contract of sale, or other li…

Any purchaser who fails to object and specify the invalidity or defect contained in the time-share instrument within sixty days after receipt of written notice that the developer has assigned the receivables to the lienholder may not claim that the time-share instrument is invali…

In this chapter , unless the context requires otherwise: 1. “Association” means all of the time-share interval owners of a time-share project acting as a group, either through a nonstock nonprofit corporation or an unincorporated association, in accordance with its bylaws governi…

A person engaged in the business or occupation of selling time-share estates for a fee or a commission shall obtain a real estate license pursuant to chapter 543B . 85 Acts, ch 155, §20 Referred to in §557A.3

1. Sections 557A.4 through 557A.10 apply only to time-share programs located in Iowa. 2. Sections 557A.1 , 557A.2 , and 557A.11 through 557A.20 apply to any time-share program, wherever located, which is marketed in Iowa. 85 Acts, ch 155, §3 ; 2021 Acts, ch 80, §345

An action for partition of a unit shall not be maintained except as permitted by the time-share instrument. 85 Acts, ch 155, §4 Referred to in §557A.3

1. A time-share estate is an estate in real property and has the character and incidents of an estate in fee simple at common law or an estate for years if a leasehold, except as expressly modified by this chapter . 2. A document transferring or encumbering a time-share estate sh…

Project instruments and time-share instruments creating time-share estates shall contain the following: 1. The name of the county in which the property is situated. 2. The legal description, street address, or other description sufficient to identify the property. 3. Identificati…

The time-share instruments for a time-share estate program shall prescribe reasonable arrangements for management and operation of the program and for the maintenance, repair, and furnishing of units, which shall include, but not be limited to, provisions for the following: 1. Cr…

1. The time-share instruments for a time-share estate program may provide for a period of time, known as the developer control period, during which the developer or a managing agent selected by the developer shall manage the time-share program and the units in the time-share prog…

Project instruments and time-share instruments creating time-share uses shall contain the following: 1. Identification by name of the time-share project and street address or other description sufficient to identify the property where the time-share project is situated. The addre…