SF 2137 (LSB 5275SV (5) 88)

RELATING TO FILING REQUIREMENTS APPLICABLE TO EXTENSIONS  OF REAL ESTATE CONVEYANCES OR TRANSACTIONS UNDER SPECIFIED  CIRCUMSTANCES. 

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:

    Section 1.  Section 614.21, subsection 2, Code 2020, is amended to read as follows:
   2.  The date of maturity, when different than as appears by the record of the instrument, and the date of maturity of any extension of the instrument or the debt or of said indebtedness or part thereof, may be shown at any time prior to the expiration of the periods of limitation specified in subsection 1 by the holder of the debt or the owner or assignee of the instrument by filing an extension agreement, duly acknowledged as the original instrument was required to be acknowledged, in the office of the recorder where the instrument is recorded an extension agreement or other documentation confirming an agreement to extend the date of maturity of the instrument or said debt or said indebtedness secured thereby. By authorizing or becoming bound under an existing real estate mortgage, bond for deed, trust deed, or contract for the sale or conveyance of real estate, the grantor or mortgagor thereunder authorizes the 

holder of said debt or the owner or assignee of said instrument to make the filing under this subsection.

______________________________
CHARLES SCHNEIDER
President of the Senate

______________________________
PAT GRASSLEY
Speaker of the House

   I hereby certify that this bill originated in the Senate and is known as Senate File 2137, Eighty-eighth General Assembly.

______________________________
W. CHARLES SMITHSON
Secretary of the Senate

Approved _______________, 2020

______________________________
KIM REYNOLDS
Governor