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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