House Journal: Page 26: Thursday, November 8, 2001
4 and 103 of this Act to such extent and for such period
5 as may appear to the court to be just.
6 Sec. 102. INSTALLMENT CONTRACTS FOR PURCHASE OF
7 PROPERTY.
8 1. No person who has received, or whose assignor
9 has received, under a contract for the purchase of
10 real or personal property, or of lease or bailment
11 with a view to purchase of such property, a deposit or
12 installment of the purchase price, or a deposit or
13 installment under the contract, lease, or bailment,
14 from a person or from the assignor of a person who,
15 after the date of payment of such deposit or
16 installment, has entered military service, shall
17 exercise any right or option under such contract to
18 rescind or terminate the contract or resume possession
19 of the property for nonpayment of any installment due
20 or for any other breach of its terms occurring prior
21 to or during the period of such military service,
22 except by action in a court of competent jurisdiction.
23 2. Upon the hearing of such action as provided in
24 subsection 1, the court may order the repayment of
25 prior installments or deposits or any part, as a
26 condition of terminating the contract and resuming
27 possession of the property, or may, in its discretion,
28 on its own motion, and shall, on application to it by
29 such person in military service or some person on the
30 person's behalf, order a stay of proceedings as the
31 court deems just, unless in the opinion of the court,
32 the ability of the defendant to comply with the terms
33 of the contract is not materially affected by reason
34 of such service; or it may make such other disposition
35 of the case as may be equitable to conserve the
36 interests of all parties.
37 Sec. 103. MORTGAGES, TRUST DEEDS, OR OTHER
38 SECURITY.
39 1. The provisions of this section shall apply only
40 to obligations secured by mortgage, trust deed, or
41 other security in the nature of a mortgage upon real
42 or personal property owned by a person in military
43 service at the commencement of the period of the
44 military service and still so owned by the person
45 which obligations originated prior to the person's
46 period of military service.
47 2. In any proceeding commenced in any court during
48 the period of military service to enforce such
49 obligation as provided in subsection 1 arising out of
50 nonpayment of any sum due or out of any other breach
Page 3
1 of the terms of the mortgage, trust deed, or other
2 security occurring prior to or during the period of
3 such service the court may, after hearing, in its
© 2001 Cornell College and
League of Women Voters of Iowa
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