654.9A Release of superior liens by bond.
At any time prior to the court’s decree, the plaintiff, or a person guaranteeing title of the plaintiff’s mortgage, may post a bond with sureties to be approved by the clerk and apply to the court to release the claim against the property of any person claiming a lien superior to that of the plaintiff in the property subject to foreclosure. The bond shall be in an amount not less than twice the amount of the claim, and notice of the bond and the court’s order of release shall be served on the claimant. Unless the claimant has appeared in the foreclosure action, the service shall be by personal service. Unless the claimant files an action on the bond within twelve months from service of the notice, the claimant shall be barred from any further remedy. In a successful action on the bond, the court may award the claimant reasonable attorney fees. A guarantor filing such a bond shall be subrogated to any defenses which the plaintiff may have against the adverse claimant, including but not limited to a defense of lack of equity in the mortgaged property to secure the adverse claim in its proper priority.
2006 Acts, ch 1132, §7, 16
Structure Iowa Code
Title XV - JUDICIAL BRANCH AND JUDICIAL PROCEDURES
Chapter 654 - FORECLOSURE OF REAL ESTATE MORTGAGES
Section 654.1 - Equitable proceedings.
Section 654.1A - Maintenance of mortgagor protections — discontinuation of occupation.
Section 654.2 - Deeds of trust.
Section 654.2A - Agricultural land — notice, right to cure default.
Section 654.2B - Requirements of notice of right to cure.
Section 654.2C - Mediation notice — foreclosure on agricultural property.
Section 654.2D - Nonagricultural land — notice, right to cure default.
Section 654.4 - Separate suits on note and mortgage.
Section 654.4A - Service of process — in rem relief.
Section 654.4B - Acceleration of indebtedness — notice of mortgage mediation assistance.
Section 654.5 - Judgment — sale and redemption.
Section 654.6 - Deficiency — general execution.
Section 654.8 - Junior encumbrancer entitled to assignment.
Section 654.9 - Payment of other liens — rebate of interest.
Section 654.9A - Release of superior liens by bond.
Section 654.11 - Foreclosure of title bond.
Section 654.12 - Vendee deemed mortgagor.
Section 654.12A - Priority of advances under mortgages.
Section 654.12B - Priority of recorded purchase money mortgage lien.
Section 654.13 - Pledge of rents — priority.
Section 654.14 - Preference in receivership — application of rents.
Section 654.15 - Continuance — moratorium.
Section 654.15A - Notice of sale to junior creditors.
Section 654.15B - Right to intervene — notice.
Section 654.16 - Separate redemption of homestead.
Section 654.16A - Right of first refusal following recording of sheriff’s deed to agricultural land.
Section 654.17 - Rescission of foreclosure.
Section 654.17A - Sale free of liens.
Section 654.17B - Divestment of junior liens pursuant to loan modification — repeal.
Section 654.17C - Military foreclosure protection — notice.
Section 654.18 - Alternative nonjudicial voluntary foreclosure procedure.
Section 654.19 - Deed in lieu of foreclosure — agricultural land.
Section 654.20 - Foreclosure without redemption — nonagricultural land.
Section 654.20A - Rights reserved.
Section 654.21 - Demand for delay of sale.
Section 654.22 - No demand for delay of sale.
Section 654.23 - No redemption rights after sale.
Section 654.24 - Deed and possession.