Progress of ISBA Real Estate Section 2014 agenda

The legislative agenda of the Real Estate Section of The Iowa State Bar Association has been somewhat modest for 2014. Three out of four of the bills proposed have passed both houses of the legislature. As of April 3, two have been signed into law.

SF 2091 Joint Tenancy Bill

“An act relating to common forms of co-ownership of real property and including effective date and applicability provisions.”

Status: Passed both houses, signed by governor, effective January 1, 2015.

The law adds language to Iowa Code section 557.15 that creates a presumption in favor of a “joint tenancy with a right of survivorship” if a conveyance is made to two or more persons who are married or where the terms “joint tenants” or “their survivor” are used in the conveyance instrument. The act adds language to Iowa Code section 557.15 that creates a presumption of severance of the Joint Tenancy with Rights of Survivorship upon an order of dissolution, annulment, or separate maintenance pursuant to Code Section 598.21.

SF 2315 Stale Uses Bill

“An act relating to the scope and nature of use restrictions on land.”

Status: Passed both houses, signed by governor, effective July 1, 2014.

The act amends the “Stale Uses and Reversions Statute” to define various sets of uses that are not barred by Iowa Code section 614.24 after 21 years and that are, therefore, not subject to renewal by verified claim.

SF 2312 Condos and Co-ops Bill

“An act relating to the continued effect of terms, conditions, covenants, and provisions contained in documents and instruments creating or regulating multiple housing cooperatives and horizontal property regimes and including applicability provisions.”

Status: Passed Senate, passed House with amendment, back to Senate for concurrence in amendment

The bill clarifies that the terms, conditions, covenants, and provisions of the documents creating and regulating a multiple housing cooperative or horizontal property regime (condominium) continue and remain in full force and effect for so long as the coop or condominium is in existence, unless amended or terminated as provided in the governing document or Iowa Code chapters 499A or 499B, respectively. The bill would put an end to the question of whether these are affected by the stale uses and reversions law.

HF 2327 Mineral Rights Bill

An act requiring recording of claims involving mineral rights in real estate owned by another person and providing for loss of mineral rights if a claim is not timely recorded.

Status: Introduced, no action in 2014

The bill required mineral rights holders to file a verified claim in order to preserve the right to subsurface minerals unless the minerals were separately assessed and taxed.

2 responses to “Progress of ISBA Real Estate Section 2014 agenda

  1. Linda L Nelson

    This is good as far as it goes. My concern is a Homeowners Association President and Treasurer that make arbitrary decisions without consulting their constituents who have paid their dues and have no say in how the monies are spent. No vote or information is given to the members. The Presidents excuse is that no one cares. I say they do and need to be informed and given a chance to voice their opinion and vote. Unfortunately this doesn’t happen. What I’ve just described is un-American. It is more like a dictatorship than an association. That is what needs to be addressed and some kind of law or regulation to prevent this from happening.

    • Of course, the ISBA has been supportive of changes to the law that would empower owners in relation to the associations of which they are members. There have been multiple bills annually for the past several years, but they have not progressed. Unfortunately, there are other powerful interests, politically connected, that do not want a change to the “buyer beware” system.

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