§ 435.27 — Reconversion

Iowa § 435.27

• Jurisdiction: Iowa
• Title X: FINANCIAL RESOURCES
• Ch. 435: PROPERTY TAXES ON MANUFACTURED AND MOBILE HOMES

Text

1. A mobile home or manufactured home converted to real estate under section 435.26
may be reconverted to a home as provided in this section when it is moved to a manufactured
home community or mobile home park or a manufactured or mobile home retailer’s
inventory. When the home is located within a manufactured home community or mobile
home park, the home shall be taxed pursuant to section 435.22, subsection 1, paragraph “a”.
2. a. If the vehicular frame of the home can be modified to return it to the status of a
mobile home or manufactured home, the owner or a secured party holding a mortgage or
certificate of title pursuant to section 435.26 who has obtained possession of the home may
apply to the county treasurer as provided in section 321.20 for a certificate of title for the
home. If a mortgage exists on the real estate, a security interest in the home shall be given
to a secured party not applying for reconversion and noted on the certificate of title with the
same priority or a higher priority than the secured party’s mortgage interest. A reconversion
shall not occur without the written consent of every secured party holding a mortgage or
certificate of title.
b. If the secured party has elected to retain the home vehicle title pursuant to section
435.26, subsection 2, paragraph “b”, an owner applying for reconversion shall present to
the county treasurer written consent to the reconversion from all secured parties and an
affirmation from the secured party holding the title that the title is in its possession and is
intact. Upon receipt of the affirmation, the county treasurer shall notify the assessor of the
reconversion, which notification constitutes compliance by the owner with subsection 3.
3. After compliance with subsection 2 and receipt of the title, the owner shall notify the
assessor of the reconversion. The assessor shall remove the assessed valuation of the home
from assessment rolls as of the succeeding January 1 when the home becomes subject to
taxation as provided under section 435.24.