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Senate File 2378

Partial Bill History

Bill Text

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
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