Senate File 2269 - Introduced SENATE FILE 2269 BY COMMITTEE ON LOCAL GOVERNMENT (SUCCESSOR TO SSB 3130) A BILL FOR An Act establishing certain definitions relating to instruments 1 affecting real estate and specifying information to be 2 contained in index records. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 5653SV (1) 83 md/sc

S.F. 2269 Section 1. Section 558.1B, Code 2009, is amended to read as 1 follows: 2 558.1B Definitions. 3 As used in this chapter, unless the context otherwise 4 requires : , “book” , 5 1. “Book” , “list” , “record” , or “schedule” kept by a county 6 auditor, assessor, treasurer, recorder, sheriff, or other 7 county officer means the county system as defined in section 8 445.1. 9 2. “Grantee” means the name of the transferee in the 10 transaction used to create the recording index. For other 11 instruments affecting real estate, “grantee” includes but is 12 not limited to a buyer, mortgagee, lender, assignee, lessee, or 13 party to an affidavit who is not the affiant. 14 3. “Grantor” means the name of the transferor in the 15 transaction used to create the recording index. For other 16 instruments affecting real estate, “grantor” includes but is not 17 limited to a seller, mortgagor, borrower, assignor, lessor, or 18 affiant. 19 Sec. 2. Section 558.49, subsection 7, Code 2009, is amended 20 to read as follows: 21 7. The description of the real estate conveyed affected by 22 the instrument . 23 EXPLANATION 24 This bill defines the term “grantor” for the purposes of Code 25 chapter 558, relating to conveyances, to be the transferor in a 26 transaction used to create the recording index. The bill also 27 specifies that for other instruments affecting real estate, 28 “grantor” includes but is not limited to a seller, mortgagor, 29 borrower, assignor, lessor, or affiant. The bill also defines 30 the term “grantee” for purposes of Code chapter 558 to be the 31 transferee in a transaction used to create the recording index. 32 The bill also specifies that for other instruments affecting 33 real estate, “grantee” includes but is not limited to a buyer, 34 mortgagee, lender, assignee, lessee, or party to an affidavit 35 -1- LSB 5653SV (1) 83 md/sc 1/ 2

S.F. 2269 who is not the affiant. 1 The bill amends Code section 558.49 relating to the types of 2 information kept in index records. The bill requires the index 3 to include the description of the real estate affected by the 4 instrument rather than the description of the real estate that 5 was conveyed. 6 -2- LSB 5653SV (1) 83 md/sc 2/ 2