Senate Study Bill 3014 - Introduced SENATE FILE _____ BY (PROPOSED COMMITTEE ON JUDICIARY BILL BY CHAIRPERSON ZAUN) A BILL FOR An Act relating to the powers of an agent under a power 1 of attorney with respect to real property and including 2 effective date and retroactive applicability provisions. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 4 TLSB 5192XC (2) 87 asf/jh
S.F. _____ Section 1. Section 633B.204, Code 2018, is amended by adding 1 the following new subsection: 2 NEW SUBSECTION . 10. Relinquish any and all of the 3 principal’s rights of dower, homestead, and elective share. 4 Sec. 2. EFFECTIVE DATE. This Act, being deemed of immediate 5 importance, takes effect upon enactment. 6 Sec. 3. RETROACTIVE APPLICABILITY. This Act applies 7 retroactively to July 1, 2014. 8 EXPLANATION 9 The inclusion of this explanation does not constitute agreement with 10 the explanation’s substance by the members of the general assembly. 11 This bill provides that, unless a power of attorney 12 otherwise provides and subject to certain restrictions 13 contained in Code section 633B.201, an agent that has been 14 granted general authority with respect to real property is 15 authorized to relinquish any and all of the principal’s rights 16 of dower, homestead, and elective share. The bill is effective 17 upon enactment. The bill applies retroactively to July 1, 18 2014. 19 -1- LSB 5192XC (2) 87 asf/jh 1/ 1