558.46 Mandatory recording of certain residential real estate installment sales contracts.
1. Every real estate installment sales contract transferring an interest in residential property shall be recorded by the contract seller with the county recorder in the county in which the real estate is situated not later than ninety days from the date the contract was signed by the contract seller and contract purchaser.
2. Failure to record a real estate contract required to be recorded by this section by the contract seller within the specified time limit is punishable by a fine not to exceed one hundred dollars per day for each day of violation. The county recorder shall record a real estate contract presented for recording even though not presented within ninety days of the signing of the contract. The county recorder shall forward to the county attorney a copy of each real estate contract recorded more than ninety days from the date the contract was signed by the contract seller and contract purchaser. The county attorney shall initiate action in the district court to enforce the provisions of this section. Fines collected pursuant to this subsection shall be deposited in the general fund of the county.
3. Failure to timely record shall not invalidate an otherwise valid real estate contract. However, a contract seller is prohibited from initiating forfeiture proceedings on the basis of a failure to comply with the terms of a real estate contract, if the contract has not been recorded.
4. If a real estate contract is required to be recorded under this section, the requirement is satisfied by recording either the entire real estate contract or a memorandum of the contract containing at least the names and addresses of all parties named in the contract, a description of all real property and interests in the real property subject to the contract, the length of the contract, and a statement as to whether the seller is entitled to the remedy of forfeiture and as to the dates upon which payments are due.
5. This section applies to residential real estate installment sales contracts entered into before, on, or after July 1, 1998. However, such contracts entered into before July 1, 1998, shall not be subject to the fine in subsection 2.
6. If a contract seller is subject to the requirements of section 558.70, the contract must be recorded within thirty days rather than ninety days and the recording requirement is only satisfied by recording the real estate contract rather than a memorandum of the contract.
98 Acts, ch 1120, §1; 2002 Acts, ch 1136, §3, 6; 2010 Acts, ch 1058, §1, 2; 2013 Acts, ch 123, §29, 30; 2021 Acts, ch 20, §12, 14, 15
2021 repeal of former subsection 5 applies to assessment years beginning on or after January 1, 2022; 2021 Acts, ch 20, §15
2021 repeal of former subsection 5 effective January 1, 2022; 2021 Acts, ch 20, §14
Subsection 5 stricken and former subsections 6 and 7 renumbered as 5 and 6
Structure Iowa Code
Section 558.1 - “Instruments affecting real estate” defined — revocation.
Section 558.2 - Corporation having seal.
Section 558.3 - Corporation not having seal.
Section 558.5 - Contract for deed — presumption of abandonment.
Section 558.6 - Given names — variation — effect.
Section 558.7 - Assignment of certificate of entry deemed deed.
Section 558.8 - Affidavits explanatory of title — presumption.
Section 558.9 - Railroad land grants — duty to record.
Section 558.10 - Patents covering land in different counties.
Section 558.11 - Record — constructive notice.
Section 558.12 - Transcript of instruments.
Section 558.13 - Transcript recorded.
Section 558.14 - Grantor described as “spouse” or “heir” — presumption.
Section 558.15 - Official stamps of nonresident public notaries — presumption.
Section 558.18 - Certification — effect.
Section 558.19 - Forms of conveyance.
Section 558.20 - Acknowledgments.
Section 558.31 - Proof of execution and delivery in lieu of acknowledgment.
Section 558.32 - Contents of certificate.
Section 558.35 - Married persons.
Section 558.36 - Attorney in fact.
Section 558.40 - Liability of officer.
Section 558.42 - Acknowledgment as condition precedent.
Section 558.44 - Mandatory recordation of conveyances and leases of agricultural land.
Section 558.45 - Notation of assignment or release on index.
Section 558.46 - Mandatory recording of certain residential real estate installment sales contracts.
Section 558.48 - Transfer fee covenant — prohibition.
Section 558.49 - Index records.
Section 558.52 - Alphabetical arrangement.
Section 558.55 - Filing and indexing — constructive notice.
Section 558.57 - Entry on auditor’s transfer books.
Section 558.58 - Recorder to collect and deliver to auditor.
Section 558.59 - Final record.
Section 558.60 - Transfer and index books.
Section 558.61 - Form of transfer book.
Section 558.62 - Form of index book.
Section 558.63 - Book of plats — how kept.
Section 558.64 - Entries of transfers.
Section 558.65 - Council’s approval of certain plats.
Section 558.66 - Updating county administrative records.
Section 558.67 - Correction of books and instruments.
Section 558.68 - Perpetuities.
Section 558.69 - Groundwater hazard statement — requirements — liability.