Text: SF02377 Text: SF02379 Text: SF02300 - SF02399 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 SENATE FILE 2378 1 2 1 3 AN ACT 1 4 RELATING TO REAL ESTATE TITLES INVOLVING BANKRUPTCY. 1 5 1 6 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 1 7 1 8 Section 1. NEW SECTION. 626C.1 DEFINITION. 1 9 As used in this chapter, unless the context otherwise 1 10 requires, "bankruptcy transcript" means a document or 1 11 documents certified by the clerk or deputy clerk of any United 1 12 States bankruptcy court as being true and correct copies of 1 13 documents on file with the United States bankruptcy court of 1 14 any district in the United States which is entitled to full 1 15 faith and credit in this state. "Bankruptcy transcript" 1 16 includes a bankruptcy court clerk's certificate of the 1 17 proceedings that have transpired in a bankruptcy as is 1 18 necessary to satisfy all applicable title standards of this 1 19 state. 1 20 Sec. 2. NEW SECTION. 626C.2 FILING AND STATUS OF 1 21 BANKRUPTCY TRANSCRIPTS. 1 22 A bankruptcy transcript authenticated in accordance with an 1 23 Act of Congress or the statutes of the state may be filed in 1 24 the office of the clerk of the district court of a county in 1 25 which real estate affected by the bankruptcy is located. 1 26 Sec. 3. NEW SECTION. 626C.3 NOTICE OF FILING. 1 27 1. At the time of the filing of the bankruptcy transcript, 1 28 the person filing the transcript shall make and file with the 1 29 clerk of the district court an affidavit setting forth the 1 30 name and last known post office address of the owner of the 1 31 affected real estate and of the person filing the bankruptcy 1 32 transcript. 1 33 2. Within three business days upon the filing of the 1 34 bankruptcy transcript and the affidavit as provided in 1 35 subsection 1, the clerk shall mail notice of the filing of the 2 1 bankruptcy transcript to the owner of the affected real estate 2 2 at the address given and shall make a note of the mailing in 2 3 the docket. The notice shall include the name and post office 2 4 address of the person filing the bankruptcy transcript and the 2 5 attorney for that person, if any, in this state. 2 6 Sec. 4. NEW SECTION. 626C.4 STAY. 2 7 1. If the real estate owner files an application for stay 2 8 within twenty days of the date of mailing the notice of filing 2 9 the bankruptcy transcript by the clerk with the district court 2 10 in which the bankruptcy transcript is filed that an appeal 2 11 from any portion of the bankruptcy transcript is pending or 2 12 will be taken, or that a stay of execution has been granted, 2 13 the court shall stay the effect of the bankruptcy transcript 2 14 until the appeal is concluded, the time for appeal expires, or 2 15 the stay of execution expires or is vacated. 2 16 2. The district court for the county in which the 2 17 bankruptcy transcript is filed has no jurisdiction to stay the 2 18 effects of the bankruptcy transcript either as initially filed 2 19 or as amended if the transcript contains a certificate by the 2 20 clerk of the bankruptcy court of any of the following: 2 21 a. The order affecting real estate has not been appealed 2 22 and the time for filing an appeal has expired. 2 23 b. The order affecting real estate has been appealed and 2 24 the order has been affirmed on appeal and is not further 2 25 appealable. 2 26 c. An appeal from the order affecting real estate has been 2 27 filed and no stay from that order has been granted by the 2 28 bankruptcy court to the appealing party. 2 29 3. An amendment to the bankruptcy transcript demonstrating 2 30 the finality of the bankruptcy court proceedings shall 2 31 terminate any jurisdiction of the district court to stay the 2 32 effects of the bankruptcy transcript. 2 33 Sec. 5. NEW SECTION. 626C.5 AMENDMENT. 2 34 A bankruptcy transcript may be amended as necessary to 2 35 clear title to all real estate located in the county of filing 3 1 which is affected by any bankruptcy without payment of any 3 2 additional fee. 3 3 Sec. 6. NEW SECTION. 626C.6 FEE. 3 4 For filing a bankruptcy transcript, the clerk shall collect 3 5 a fee in the amount collected for filing and docketing a 3 6 petition under section 602.8105, subsection 1, paragraph "a". 3 7 Sec. 7. NEW SECTION. 626C.7 OPTIONAL PROCEDURE. 3 8 The right of a party in interest or the owner of real 3 9 estate to record all documents necessary to clear title to 3 10 real estate involved in a bankruptcy case, instead of 3 11 proceeding under this chapter, remains unimpaired. 3 12 3 13 3 14 3 15 MARY E. KRAMER 3 16 President of the Senate 3 17 3 18 3 19 3 20 RON J. CORBETT 3 21 Speaker of the House 3 22 3 23 I hereby certify that this bill originated in the Senate and 3 24 is known as Senate File 2378, Seventy-seventh General Assembly. 3 25 3 26 3 27 3 28 MARY PAT GUNDERSON 3 29 Secretary of the Senate 3 30 Approved , 1998 3 31 3 32 3 33 3 34 TERRY E. BRANSTAD 3 35 Governor
Text: SF02377 Text: SF02379 Text: SF02300 - SF02399 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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