Senate File 458 - Introduced SENATE FILE 458 BY COMMITTEE ON JUDICIARY (SUCCESSOR TO SSB 1147) A BILL FOR An Act relating to debts for which the homestead is liable by 1 providing that the homestead may be sold to satisfy debts 2 secured by a mechanic’s lien, including principal, interest, 3 attorney fees, and costs. 4 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 5 TLSB 2007SV (3) 88 asf/jh

S.F. 458 Section 1. Section 561.21, subsection 3, Code 2019, is 1 amended to read as follows: 2 3. Those incurred secured by a mechanic’s lien under chapter 3 572, including principal, interest, attorney fees, and costs, 4 or those otherwise incurred for work done or material furnished 5 exclusively for the improvement of the homestead. 6 EXPLANATION 7 The inclusion of this explanation does not constitute agreement with 8 the explanation’s substance by the members of the general assembly. 9 This bill relates to debts for which the homestead is liable. 10 Current law provides that the homestead may be sold to satisfy 11 debts incurred for work done or material furnished exclusively 12 for the improvement of the homestead. The bill provides 13 that the homestead may be sold to satisfy debts secured by a 14 mechanic’s lien under Code chapter 572, including principal, 15 interest, attorney fees, and costs, or those debts otherwise 16 incurred for work done or materials furnished to improve the 17 homestead. 18 -1- LSB 2007SV (3) 88 asf/jh 1/ 1