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

In absence of stipulations to the contrary, the mortgagor of real estate retains the legal title and right of possession thereto. [C51, §1210; R60, §2217; C73, §1938; C97, §2922; C24, 27, 31, 35, 39, § 10053; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §557.14 ]

1. A conveyance of real property to two or more grantees each in their own right creates a tenancy in common, unless a contrary intent is expressed in the conveyance instrument or as provided in subsection 2 . 2. A conveyance of real property to two or more grantees in a conveyan…

In all cases in which any real estate is now or shall be hereafter held by two or more persons as tenants in common, and one or more of said tenants shall have been or shall hereafter be in possession of said real estate, it shall be lawful for any one or more of said tenants in …

In case of partition of such real estate held in common as aforesaid, the parties in possession shall have deducted from their distributive shares of said real estate the rental value thereof to which their cotenants are entitled. [C24, 27, 31, 35, 39, § 10056; C46, 50, 54, 58, 6…

No vendor’s lien for unpaid purchase money shall be enforced in any court of this state after a conveyance by the vendee, unless such lien is reserved by conveyance, mortgage, or other instrument duly acknowledged and recorded, or unless such conveyance by the vendee is made afte…

Nothing in section 557.18 shall be construed to deprive a vendor of any remedy now existing against conveyance procured through the fraud or collusion of the vendees therein, or persons purchasing of such vendees with notice of such fraud or lien. [C73, §1940; C97, §2924; C24, 27…

The term “heirs” or other technical words of inheritance are not necessary to create and convey an estate in fee simple. [C51, §1200; R60, §2208; C73, §1929; C97, §2913; C24, 27, 31, 35, 39, § 10041; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §557.2 ]

The rule or principle of the common law known as the rule in Shelley’s case is hereby abolished and is declared not to be a part of the law of this state. [S13, §2924-a; C24, 27, 31, 35, 39, § 10059; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §557.20 ]

No express devise, bequest, or conveyance of an estate for life, or other limited estate in real or personal property shall be enlarged or construed to pass any greater estate to the devisee, legatee, or grantee thereof by reason of any devise, bequest, or conveyance to the heirs…

Any owner of a farm in the state may have the name of that farm, together with a description of the owner’s lands to which the name applies, recorded in the office of the county recorder of the county in which the farm is located. [S13, §2924-c; C24, 27, 31, 35, 39, § 10061; C46,…

When any name shall have been recorded as the name of any farm in such county, such name shall not be recorded as the name of any other farm in the same county. [S13, §2924-c; C24, 27, 31, 35, 39, § 10062; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §557.23 ] Referred to in …

A person having the name of the person’s farm recorded as provided in section 557.22 shall first pay to the county recorder the fees specified in section 331.604 , which shall be paid to the county treasurer as other fees are paid to the county treasurer by the recorder. [S13, §2…

When any owner of a farm, the name of which has been recorded as hereinbefore provided, transfers by deed or otherwise the whole of such farm, such transfer may include the registered name thereof; but if the owner shall transfer only a portion of such farm, then in that event, t…

If the owner of a registered farm desires to cancel the registered name of the farm, the owner shall acknowledge cancellation of the name by execution of an instrument in writing referring to the farm name, and shall record the instrument. For the latter service the county record…

Every conveyance of real estate passes all the interest of the grantor therein, unless a contrary intent can be reasonably inferred from the terms used. [C51, §1201; R60, §2209; C73, §1930; C97, §2914; C24, 27, 31, 35, 39, § 10042; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81,…

Where a deed purports to convey a greater interest than the grantor was at the time possessed of, any after-acquired interest of such grantor, to the extent of that which the deed purports to convey, inures to the benefit of the grantee. But if the spouse of such grantor joins in…

Adverse possession of real estate does not prevent any person from selling that person’s interest in the same. [C51, §1203; R60, §2211; C73, §1932; C97, §2916; C24, 27, 31, 35, 39, § 10044; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §557.5 ]

Estates may be created to commence at a future day. [C51, §1204; R60, §2212; C73, §1933; C97, §2917; C24, 27, 31, 35, 39, § 10045; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §557.6 ]

A contingent remainder shall take effect, notwithstanding any determination of the particular estate, in the same manner in which it would have taken effect if it had been an executory devise or a springing or shifting use, and shall, as well as such limitations, be subject to th…

Section 557.7 , except so far as declaratory of existing law, shall apply only to instruments executed on or after July 1, 1925, and to wills and codicils revived or confirmed by a will or codicil executed on or after said date. [C24, 27, 31, 35, 39, § 10047; C46, 50, 54, 58, 62,…

No expectant estate shall be defeated or barred by an alienation or other act of the owner of the precedent estate, nor by the destruction of such precedent estate by disseizin, forfeiture, surrender, or merger; provided that on the petition of the life tenant, with the consent o…

This chapter shall be known as the “Iowa Time-share Act” . 85 Acts, ch 155, §1 Referred to in §557A.3

The time-share instruments for a time-share use 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. Standa…

1. A developer or an agent of a developer of a time-share program shall provide a current property report to a purchaser not later than ten days after the purchaser signs a purchase agreement. Prior to any sale or solicitation for sale of a time-share interval, a copy of all disc…

1. When the owners of time-share intervals are to be permitted or required to become members of or participate in any program for the exchange of occupancy rights among themselves or with the owners of time-share intervals of other time-share projects or both, the developer or an…

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…

As used in this chapter , unless the context otherwise requires: 1. “Advertisement” means an attempt by publication, dissemination, solicitation, or circulation to induce directly or indirectly any person to enter into an obligation or acquire a title or interest in a membership …

A purchaser has the right to cancel a membership camping contract within three business days following the date the contract is executed or within three business days following the date of delivery of the written disclosure statement required by section 557B.8 , whichever event i…

A purchaser’s remedy for errors in or omissions from the membership camping contract, the materials delivered to the purchaser at the time of sale, or any of the disclosures required in section 557B.13 is limited to a right of cancellation and refund of the payment made or consid…

1. With respect to any property in this state acquired and put into operation by a membership camping operator after July 1, 1987, the membership camping operator shall not offer or execute a membership camping contract in this state granting the right to use the property until t…

1. Any advertisement, communication, or sales literature relating to membership camping contracts, including oral statements by a salesperson or any other person, shall not contain: a. Any untrue statement of material fact or any omission of material fact which would make the sta…