Text: HF02448                           Text: HF02450
Text: HF02400 - HF02499                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index



House File 2449

Partial Bill History

Bill Text

PAG LIN
  1  1    Section 1.  Section 561.13, Code 2001, is amended to read
  1  2 as follows:
  1  3    561.13  CONVEYANCE OR ENCUMBRANCE.
  1  4    1.  A conveyance or encumbrance of, or a contract to convey
  1  5 or encumber, the homestead, if the owner is married, is not
  1  6 valid, unless and until the spouse of the owner executes the
  1  7 same or a like instrument, or a power of attorney for the
  1  8 execution of the same or a like instrument, and the instrument
  1  9 or power of attorney sets out the legal description of the
  1 10 homestead.  If a power of attorney sets out the legal
  1 11 description of the homestead at the time the power of attorney
  1 12 was executed, together with the language "or any subsequently
  1 13 acquired homestead" or substantially similar language, and the
  1 14 principal who executed the power of attorney acquires a
  1 15 different homestead after the execution of the power of
  1 16 attorney, the power of attorney shall be sufficient to allow a
  1 17 conveyance or encumbrance of the homestead.  A power of
  1 18 attorney executed at a time when the principal does not own a
  1 19 homestead that authorizes the attorney in fact designated by
  1 20 the power of attorney to convey or encumber any homestead
  1 21 property subsequently acquired is also sufficient to allow the
  1 22 conveyance or encumbrance of any later acquired homestead.
  1 23    2.  However, when When the homestead is conveyed or
  1 24 encumbered along with or in addition to other real estate, it
  1 25 is not necessary to particularly describe or set aside the
  1 26 tract of land constituting the homestead, whether the
  1 27 homestead is exclusively the subject of the contract or not,
  1 28 but the contract may be enforced as to real estate other than
  1 29 the homestead at the option of the purchaser or encumbrancer.
  1 30 If a spouse who holds only homestead rights and surviving
  1 31 spouse's statutory share in the homestead specifically
  1 32 relinquishes homestead rights in an instrument, including a
  1 33 power of attorney, constituting the other spouse as the
  1 34 husband's or wife's attorney in fact, as provided in section
  1 35 597.5, it is not necessary for the spouse to join in the
  2  1 granting clause of the same or a like instrument.  
  2  2                           EXPLANATION
  2  3    This bill relates to a power of attorney for the conveyance
  2  4 or encumbrance of homestead property.
  2  5    The bill provides that a spouse who executes a power of
  2  6 attorney containing the legal description of the homestead
  2  7 together with the language "or any subsequently acquired
  2  8 homestead" or substantially similar language, may convey or
  2  9 encumber the homestead even if the principal acquires a
  2 10 different homestead after the execution of the power of
  2 11 attorney.  The bill further provides that a power of attorney
  2 12 executed at a time when the principal does not own a home that
  2 13 authorizes the attorney in fact designated by the power of
  2 14 attorney to convey or encumber any homestead property
  2 15 subsequently acquired is also sufficient to allow the
  2 16 conveyance or encumbrance of any later acquired homestead.  
  2 17 LSB 5508HH 79
  2 18 rh/sh/8
     

Text: HF02448                           Text: HF02450
Text: HF02400 - HF02499                 Text: HF Index
Bills and Amendments: General Index     Bill History: General Index

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