House
File
2318
-
Introduced
HOUSE
FILE
2318
BY
STUTSMAN
A
BILL
FOR
An
Act
relating
to
the
recording
of
certain
instruments
1
affecting
real
estate
and
including
applicability
2
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
4
TLSB
5989YH
(2)
85
md/sc
H.F.
2318
Section
1.
Section
558.11,
Code
2014,
is
amended
to
read
as
1
follows:
2
558.11
Record
——
constructive
notice.
3
The
evidence
of
title
,
mortgage,
or
assignment
of
a
mortgage
4
shall
be
filed
with
the
recorder
of
deeds
of
the
county
in
5
which
the
real
estate
is
situated,
who
shall
record
and
index
6
the
same,
and
place
an
abstract
thereof
upon
the
index
of
7
deeds.
The
recording
thereof
shall
be
constructive
notice
to
8
all
persons,
as
provided
in
other
cases
of
entries
upon
said
9
the
index
of
deeds
,
and
the
recorder
shall
receive
the
same
10
fees
therefor
as
for
recording
other
instruments.
11
Sec.
2.
Section
558.41,
subsection
1,
Code
2014,
is
amended
12
to
read
as
follows:
13
1.
Effect
of
recording.
An
instrument
affecting
real
14
estate
,
including
but
not
limited
to
a
mortgage
or
an
15
assignment
of
a
mortgage,
is
of
no
validity
against
subsequent
16
purchasers
for
a
valuable
consideration,
without
notice,
or
17
against
the
state
or
any
of
its
political
subdivisions
during
18
and
after
condemnation
proceedings
against
the
real
estate,
19
unless
the
instrument
is
filed
and
recorded
in
the
county
in
20
which
the
real
estate
is
located,
as
provided
in
this
chapter
.
21
Sec.
3.
APPLICABILITY.
This
Act
applies
to
mortgages
and
22
assignments
of
a
mortgage
filed
for
recording
on
or
after
July
23
1,
2014.
24
EXPLANATION
25
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
26
the
explanation’s
substance
by
the
members
of
the
general
assembly.
27
This
bill
requires
that
a
mortgage
or
an
assignment
of
a
28
mortgage
be
filed
with
the
county
recorder
of
the
county
in
29
which
the
real
estate
is
situated.
The
bill
also
provides
that
30
the
recording
of
a
mortgage
or
an
assignment
of
a
mortgage
31
shall
be
constructive
notice
to
all
persons,
as
provided
in
32
other
cases
of
entries
upon
the
index
of
deeds
maintained
33
by
the
recorder.
The
bill
further
provides
that
the
county
34
recorder
shall
receive
the
same
fees
for
recording
the
mortgage
35
-1-
LSB
5989YH
(2)
85
md/sc
1/
2
H.F.
2318
or
the
assignment
of
a
mortgage
as
is
authorized
for
recording
1
other
instruments.
2
The
bill
specifies
that
a
mortgage
or
an
assignment
of
a
3
mortgage
are
two
of
the
instruments
affecting
real
estate
that
4
are
not
valid
against
subsequent
purchasers
for
a
valuable
5
consideration,
without
notice,
or
against
the
state
or
any
6
of
its
political
subdivisions
during
and
after
condemnation
7
proceedings
against
the
real
estate,
unless
they
are
filed
and
8
recorded
as
provided
by
statute.
9
The
bill
applies
to
mortgages
and
assignments
of
mortgage
10
filed
for
recording
on
or
after
July
1,
2014.
11
-2-
LSB
5989YH
(2)
85
md/sc
2/
2