§ 499B.12 — Liens against apartments — removal from lien — effect of part payment

Iowa § 499B.12

• Jurisdiction: Iowa
• Title XII: BUSINESS ENTITIES
• Ch. 499B: HORIZONTAL PROPERTY (CONDOMINIUMS)

Text

1. Subsequent to recording the declaration provided for in section 499B.3, and while the
property remains enrolled in a horizontal property regime, no lien shall thereafter arise or
be effective against the property. During such period liens or encumbrances shall arise or be
created only against the individual apartment and the general common elements and limited
commonelementswhereapplicable, appurtenanttosuchapartment, inthesamemannerand
under the same conditions in every respect as liens or encumbrances may arise or be created
upon or against any other separate parcel of real property subject to individual ownership.
2. In the event a lien against two or more apartments becomes effective, the owners of
the separate apartments may remove their apartment and the general common elements and
limited common elements where applicable appurtenant to such apartment from the lien by
payment of the fractional or proportional amounts attributable to each of the apartments
affected. Such individual payments shall be computed by reference to the fractions or
percentages appearing on the declaration provided for in section 499B.4, subsection 6.
Subsequent to any such payment, discharge or other satisfaction the individual apartment
and the general common elements and limited common elements applicable appurtenant
thereto shall thereafter be free and clear of the lien so paid, satisfied or discharged. Such
partial payment, satisfaction or discharge shall not prevent the lienor from proceeding to
enforce the lienor’s rights against any apartment and the general common elements, limited
common elements where applicable appurtenant thereto not so paid, satisfied or discharged.

Legislative History

[C66, 71, 73, 75, 77, 79, 81, §499B.12]