Iowa § 499B.18 Common expenses before foreclosure

Iowa Statutes

§ 499B.18 — Common expenses before foreclosure

Iowa § 499B.18

Title XIIBUSINESS ENTITIES

Ch. 499BHORIZONTAL PROPERTY (CONDOMINIUMS)

This text of Iowa § 499B.18 (Common expenses before foreclosure) 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 § 499B.18 (2026).

Text

Where the mortgagee of a first mortgage of record or other purchaser of an apartment
obtains title to the apartment as a result of foreclosure of the first mortgage, such acquirer
of title, the acquirer’s successors and assigns, shall not be liable for the share of the
common expenses or assessments by the council of co-owners chargeable to such apartment
which became due prior to the acquisition of title to such apartment by such acquirer.
Such unpaid share of common expenses or assessments shall be deemed to be common
expenses collectible from all of the apartment owners including such acquirer, the acquirer’s
successors and assigns.

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Where the mortgagee of a first mortgage of record or other purchaser of an apartment
obtains title to the apartment as a result of foreclosure of the first mortgage, such acquirer
of title, the acquirer’s successors and assigns, shall not be liable for the share of the
common expenses or assessments by the council of co-owners chargeable to such apartment
which became due prior to the acquisition of title to such apartment by such acquirer.
Such unpaid share of common expenses or assessments shall be deemed to be common
expenses collectible from all of the apartment owners including such acquirer, the acquirer’s
successors and assigns.