Iowa § 486A.504 Partner’s transferable interest subject to charging order

Iowa Statutes

§ 486A.504 — Partner’s transferable interest subject to charging order

Iowa § 486A.504

Title XIIBUSINESS ENTITIES

Ch. 486AUNIFORM PARTNERSHIP ACT

This text of Iowa § 486A.504 (Partner’s transferable interest subject to charging order) 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 § 486A.504 (2026).

Text

1.On application by a judgment creditor of a partner or of a partner’s transferee, a court having jurisdiction may charge the transferable interest of the judgment debtor to satisfy the judgment. Thecourtmayappointareceiveroftheshareofthedistributionsdueortobecome duetothejudgmentdebtorinrespectofthepartnershipandmakeallotherorders, directions, accounts, and inquiries the judgment debtor might have made or which the circumstances of the case may require.

2.A charging order constitutes a lien on the judgment debtor’s transferable interest in the partnership. The court may order a foreclosure of the interest subject to the charging order at any time. The purchaser at the foreclosure sale has the rights of a transferee.

3.At any time before foreclosure, an interest charged may be redeemed

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1. On application by a judgment creditor of a partner or of a partner’s transferee, a court
having jurisdiction may charge the transferable interest of the judgment debtor to satisfy the
judgment. Thecourtmayappointareceiveroftheshareofthedistributionsdueortobecome
duetothejudgmentdebtorinrespectofthepartnershipandmakeallotherorders, directions,
accounts, and inquiries the judgment debtor might have made or which the circumstances of
the case may require.
2. A charging order constitutes a lien on the judgment debtor’s transferable interest in the
partnership. The court may order a foreclosure of the interest subject to the charging order
at any time. The purchaser at the foreclosure sale has the rights of a transferee.
3. At any time before foreclosure, an interest charged may be redeemed by or with any of
the following:
a. By the judgment debtor.
b. With property other than partnership property, by one or more of the other partners.
c. With partnership property, by one or more of the other partners with the consent of all
of the partners whose interests are not so charged.
4. This chapter does not deprive a partner of a right under exemption laws with respect
to the partner’s interest in the partnership.
5. Thissectionprovidestheexclusiveremedybywhichajudgmentcreditorofapartneror
partner’stransfereemaysatisfyajudgmentoutofthejudgmentdebtor’stransferableinterest
in the partnership.