462A.82 Transfer or repossession of vessel by operation of law — coast guard documentation of vessel.
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/ia/chapter-462a-water-navigation-regulations/462a-82·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
1. If ownership of a vessel is transferred by operation of law, such as by inheritance, order in bankruptcy, insolvency, replevin, execution sale, or in compliance with section 578A.7, the transferee, within thirty days after acquiring the right to possession of the vessel by operation of law, shall mail or deliver to the county recorder satisfactory proof of ownership as the county recorder requires, together with an application for a new certificate of title, and the required fee, plus the writing fee specified in section 462A.53.
However, if the transferee is the surviving spouse of the deceased owner, the county recorder shall waive the required fees. A title tax is not required on these transactions.
2. If a lienholder repossesses a vessel by operation of law and holds it for resale, the lienholder shall secure a new certificate of title and shall pay the required fee, plus the writing fee specified in section 462A.53.
3. If a vessel is documented with the United States coast guard, the owner shall mail or deliver to the county recorder proof of the documentation and the owner’s certificate of title issued pursuant to this chapter is canceled upon the delivery. A title tax is not required on these transactions.
CS87, §106.82
C93, §462A.82
Referred to in §462A.77, 462A.78