S.F. 494 Section 1. Section 654.5, subsection 2, Code 2011, is 1 amended to read as follows: 2 2. a. A special execution shall issue under such conditions 3 as the decree may prescribe, and the sale under the special 4 execution is subject to redemption as in cases of sale under 5 general execution unless the plaintiff has elected foreclosure 6 without redemption under section 654.20 . 7 b. (1) A successful bidder at the sale who is not 8 affiliated with the judgment creditor may, with the written 9 consent of the mortgagor filed with the court prior to the sale 10 and in lieu of a sheriff’s deed or sheriff’s certificate of 11 sale, elect to receive an assignment by court order without 12 recourse of all of the judgment creditor’s in rem interest in 13 the judgment, the underlying indebtedness net of any deficiency 14 judgment, and any policies of title, property, and any other 15 similar insurance or guaranty owned by the judgment creditor 16 relating to the affected property. Except for a sale that 17 is subject to redemption, an assignment under this section 18 shall bar junior interests in the property as if an assignment 19 had not been elected. If the sale is subject to redemption, 20 the period to redeem shall commence on the date of the sale 21 resulting in the assignment. 22 (2) An assignment under this paragraph “b” shall not affect 23 the right of the judgment creditor to enforce a deficiency 24 judgment against other property of the judgment debtor, nor 25 shall it bar a subsequent recision or execution against the 26 property on the judgment assigned by the assignee. 27 (3) An assignee under this paragraph “b” is subject to the 28 applicable provisions of chapters 535B, 714E, and 714F unless 29 the assignee is related to the mortgagor or the mortgagor’s 30 spouse within the third degree of consanguinity or affinity. 31 Sec. 2. Section 654.4B, subsection 2, paragraph b, Code 32 2011, is amended to read as follows: 33 b. This subsection is repealed July 1, 2011 2012 . 34 -1- SF 494 (7) 84 rh/sc 1/ 1