628.28 Redemption of property not used for agricultural or certain residential purposes.

263 words·~1 min read·/ia/chapter-628-redemption/628-28

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

1. If real property is not used for agricultural purposes, as defined in section 535.13, and is not the residence of the debtor, or if it is the residence of the debtor but not a single-family or two-family dwelling, then the period of redemption after foreclosure is one hundred eighty days. For the first ninety days after the sale the right of redemption is exclusive to the debtor and the time periods provided in sections 628.5, 628.15, and 628.16 are reduced to one hundred thirty-five days.

If a deficiency judgment has been waived the period of redemption is reduced to ninety days. For the first thirty days after the sale the redemption is exclusively the right of the debtor and the time periods provided in sections 628.5, 628.15, and 628.16 are reduced to sixty days.

2. If real property is not used for agricultural purposes, as defined in section 535.13, and is a single-family or two-family dwelling which is the residence of the debtor at the time of foreclosure but the court finds that after foreclosure the dwelling has ceased to be the residence of the debtor and if there are no junior creditors, the court shall order the period of redemption reduced to thirty days from the date of the court order. If there is a junior creditor, the court shall order the redemption period reduced to sixty days.

For the first thirty days redemption is the exclusive right of the debtor and the time periods provided in sections 628.5, 628.15, and 628.16 are reduced to forty-five days.

Referred to in §654.1A