557A.19 Lienholder’s rights.
Any purchaser who fails to object and specify the invalidity or defect contained in the time-share instrument within sixty days after receipt of written notice that the developer has assigned the receivables to the lienholder may not claim that the time-share instrument is invalid, void, or voidable in any subsequent action for enforcement of the collection of the receivables by the lienholder. The notice shall be by certified mail or personal delivery and state that the developer has assigned the receivables to the lienholder and that the purchaser has sixty days within which to object and specify the invalidity or defect contained within such instrument. Any objection shall be written and delivered by certified mail or personal delivery to the lienholder.
85 Acts, ch 155, §19
Referred to in §557A.3
Structure Iowa Code
Section 557A.1 - Time-share Act.
Section 557A.3 - Applicability to time-share programs located out-of-state.
Section 557A.4 - Action for partition.
Section 557A.5 - Status of time-share estates.
Section 557A.6 - Creation of time-share estates.
Section 557A.7 - Arrangements for management and operation of a time-share estate program.
Section 557A.8 - Developer control period.
Section 557A.9 - Creation of time-share uses.
Section 557A.10 - Arrangement for management and operation of a time-share use program.
Section 557A.11 - Disclosure requirements.
Section 557A.12 - Additional disclosure requirements relating to exchange programs.
Section 557A.13 - Exemptions from disclosure requirements.
Section 557A.14 - Purchaser’s and developer’s rights relating to property report.
Section 557A.15 - Release from liens.
Section 557A.16 - Enforcement and cause of action.
Section 557A.18 - Financing of time-share programs.
Section 557A.19 - Lienholder’s rights.
Section 557A.20 - Selling time-share estates — license required.