How to File a Petition Claiming Surplus Funds from a Foreclosure Proceeding in Iowa (IA)
Disclaimer: This article provides general information under Iowa law and does not constitute legal advice. Detailed Answer In Iowa, surplus funds from a foreclosure sale occur when the sheriff sells real estate for more than the debt and costs. Under Iowa Code §626.12, any excess proceeds belong to the former owner or other claimants. Follow […]
Read article →Do I get any ownership interest in the real property if I am paying the mortgage in Iowa?
Do I Get Ownership Interest in Real Property When I Pay the Mortgage? Under Iowa law, simply paying mortgage installments does not automatically grant you an ownership stake. A mortgage creates a lien on the property, securing the lender’s right to foreclose if the borrower defaults. The legal title remains with the deed holder unless […]
Read article →How to Determine If Other Creditors or Lienholders Could Have Claims to Surplus Funds in Iowa
Disclaimer: This article provides general legal information and does not constitute legal advice. Detailed Answer When a foreclosure or judicial sale in Iowa yields surplus funds, the clerk of court must distribute the balance according to priority under Iowa law. To determine whether other creditors or lienholders could claim these funds, follow these steps: Review […]
Read article →What options exist for establishing authority over an elderly heir’s personal and financial decisions in Iowa?
Disclaimer: This article provides general information and is not legal advice. Consult an attorney for guidance specific to your situation. Detailed Answer When a loved one ages and requires help managing day-to-day affairs, Iowa law offers mechanisms to appoint someone you trust to make personal and financial decisions on their behalf. The two primary options […]
Read article →How to Verify and Probate an Old Will Discovered Decades After Execution in Iowa
Disclaimer: This content is for educational purposes only and does not constitute legal advice. Consult a licensed attorney in Iowa for guidance. Detailed Answer Discovering an old will decades after its execution triggers a specific probate process in Iowa. This section outlines the key steps to verify authenticity, meet statutory requirements, and admit the will […]
Read article →How to Verify if the Decedent Had a Valid Will or Other Estate Planning Documents in Iowa (IA)
Disclaimer: This article is for informational purposes only and does not constitute legal advice. Detailed Answer When someone dies, you must determine if they created a valid will or signed other estate planning documents. In Iowa, a valid will requires the testator’s signature and two witnesses present at the same time under Iowa Code §633.214. […]
Read article →What rights does a life estate grant to a lifetime beneficiary and how is a remainder interest determined when a will designates a remainderman? (IA)
Detailed Answer Under Iowa law, a life estate grants a lifetime beneficiary (the life tenant) the right to possess, use, and derive income from real property for the duration of a measured life. The life tenant enjoys three primary rights: Possession: The life tenant may occupy the property. Use: The life tenant may rent, farm, […]
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