Iowa Code § 654.23
No redemption rights after sale
Redline — January 1, 2012 → current.View current text →
Current — January 1, 2018
As of January 1, 2012
The mortgagor has no right to redeem after sale. Junior lienholders have no right to redeem after sale. The mortgagor or a junior lienholder may purchase at the sale and, if so, acquire the same title as would any other purchaser. If the mortgagor at the sale bids an amount equal to the judgment, the property shall be sold to the mortgagor even though other persons may bid an amount which is more than the judgment. If the mortgagor purchases at the sale, the liens of junior lienholders shall not be extinguished. If a person other than the mortgagor purchases at the sale, the liens of junior lienholders are extinguished.
The mortgagor has no right to redeem after sale. Junior lienholders have no right to redeem after sale. The mortgagee or a junior lienholder may purchase at the sale and, if so, acquire the same title as would any other purchaser other than the mortgagor. If the mortgagor at the sale bids an amount equal to the judgment, the property shall be sold to the mortgagor even though other persons may bid an amount which is more than the judgment. If the mortgagor purchases at the sale, the liens of junior lienholders shall not be extinguished. If a person other than the mortgagor purchases at the sale, the liens of junior lienholders are extinguished.
87 Acts, ch 142, §9
87 Acts, ch 142, §9; 2016 Acts, ch 1073, §177
Referred to in
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.