Iowa § 450.48 Payment deferred — bond — exceptions

Iowa Statutes

§ 450.48 — Payment deferred — bond — exceptions

Iowa § 450.48

Title XFINANCIAL RESOURCES

Ch. 450INHERITANCE TAX

This text of Iowa § 450.48 (Payment deferred — bond — exceptions) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 450.48 (2026).

Text

1.Except as provided in subsection 2, when in case of deferred estates or remainder interests in personal property or in the proceeds of any real estate that may be sold during the time of a life, term, or prior estate, the persons interested who may desire to defer the payment of the tax until the determination of the prior estate, shall file with the clerk of the proper district court a bond as provided in this chapter in other cases. The bond shall be renewed every two years until the tax upon the deferred estate is paid. If at the end of any two-year period the bond is not promptly renewed as provided in this section and the tax has not been paid, the bond shall be declared forfeited, and the amount of the bond forthwith collected.

2.When the estate of a decedent includes an estate f

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1. Except as provided in subsection 2, when in case of deferred estates or remainder
interests in personal property or in the proceeds of any real estate that may be sold during
the time of a life, term, or prior estate, the persons interested who may desire to defer the
payment of the tax until the determination of the prior estate, shall file with the clerk of the
proper district court a bond as provided in this chapter in other cases. The bond shall be
renewed every two years until the tax upon the deferred estate is paid. If at the end of any
two-year period the bond is not promptly renewed as provided in this section and the tax has
not been paid, the bond shall be declared forfeited, and the amount of the bond forthwith
collected.
2. When the estate of a decedent includes an estate for life or for a term of years to one or
more persons and a deferred or remainder estate to others, and such deferred or remainder
estate is in whole or in part subject to the tax imposed by this chapter, then payment of the
tax upon such deferred or remainder estates may be postponed until the determination of the
prior estate without giving bond to secure payment of such tax as required under subsection
1 if one of the following requirements is satisfied:
a. The deferred or remainder estates or interests are so disposed that good and sufficient
securityforthepaymentofthetaxforwhichsuchdeferredorremainderestatesmaybeliable
can be had because of the lien imposed by this chapter upon the real property of such estate,
but the tax shall remain a lien upon such real estate until the tax upon such deferred estate
or interest is paid.
b. Security satisfactory to the department of revenue has been provided, which security
includes but is not limited to a bank or securities account with an irrevocable pay on death or
transfer on death provision naming the department of revenue as beneficiary, or an escrow
agreement with the department of revenue under which a private attorney will act as escrow
agent and hold the escrow funds in the attorney’s trust account.