Iowa Subordination of Lien refers to a legal process through which the priority of a lien, specifically a Deed of Trust or Mortgage, is repositioned in favor of a Right of Way or easement. This allows the Right of Way holder to have a superior claim over the property in question, even if a mortgage or deed of trust already exists. This subordination is often sought in situations where the property needs to be accessed in order to construct or maintain infrastructure like roads, power lines, or pipelines. In Iowa, there are several types of Subordination of Lien (Deed of Trust/Mortgage to Right of Way) depending on the circumstances and the parties involved. These may include: 1. Private-to-Private Subordination: This type of subordination occurs when a property owner wishes to grant a right of way or easement to another private party, while the existing lien holders (such as mortgage lenders) agree to subordinate their rights to the new right of way. This ensures that the easement holder has priority access to the property. 2. Public-to-Private Subordination: In some cases, the right of way may be sought by a government entity or public utility company, for instance, to construct a public road or install power lines. In such instances, the government or utility company will request a subordination of lien from the existing mortgage or deed of trust holders, allowing them to proceed with the infrastructure project while still protecting the lenders' interests. 3. Private-to-Public Subordination: This type of subordination occurs when a property owner voluntarily grants a right of way or easement to a government entity or public utility company. The existing lien holders agree to subordinate their interests to the public entity, granting them priority access over their own lien. The process of Iowa Subordination of Lien typically involves drafting a formal agreement between the parties involved, which outlines the terms and conditions of the subordination. This agreement is then recorded with the county recorder's office to ensure it becomes a part of the property's official records. When pursuing Iowa Subordination of Lien (Deed of Trust/Mortgage to Right of Way), it is crucial to consult with an experienced real estate attorney who can guide you through the legal requirements and ensure that all necessary steps are taken to protect the interests of all parties involved.
Iowa Subordination of Lien (Deed of Trust/Mortgage to Right of Way)
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Iowa Code 318.3 prohibits physical changes to right-of-way without a permit. Unauthorized spraying is an example of a physical change. For more information, contact our office at 319-892-6400.
The county recorder shall record a conveyance or lease of agricultural land presented for recording even though not presented within one hundred eighty days after the date of conveyance or lease. 558.44 Mandatory recordation of conveyances and leases of ... iowa.gov ? docs ? code ? 558.44.pdf iowa.gov ? docs ? code ? 558.44.pdf
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A mortgage involves only two parties: the borrower and the lender. A deed of trust has a borrower, lender and a ?trustee.? The trustee is a neutral third party that holds the title to a property until the loan is completely paid off by the borrower. Deed Of Trust: A Definition | Rocket Mortgage rocketmortgage.com ? learn ? deed-of-trust rocketmortgage.com ? learn ? deed-of-trust
In lien theory states, the borrower holds the title to the property. Instead of a Deed of Trust, a Mortgage is recorded in the public record and acts as a lien against the property until the debt is paid off. With a mortgage, a homeowner has both legal and equitable title. Lien Theory vs. Title Theory - PropLogix proplogix.com ? videos ? lien-theory-vs-titl... proplogix.com ? videos ? lien-theory-vs-titl...
589.31 City and county deeds. The deeds and conveyances are legalized and valid as if the record showed that the law had been complied with, and that the conveyances and deeding had been duly authorized by the governing body of the city or county. CHAPTER 589 Iowa Legislature (.gov) ? docs ? code Iowa Legislature (.gov) ? docs ? code PDF
