651.21 Proceeds of property partitioned by sale.
102 words·~1 min read·
/ia/chapter-651-partition/651-21A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
1. After a property has been partitioned by sale, a party, including a holder of a lien from which the property has been freed by the sale, shall have the same rights or interests in the proceeds as the party had in the property sold, subject to a prior charge for costs.
2. The court shall appoint a trustee, or order other suitable provisions, for the proceeds of a share held for life or years in the remainder. The ascertained share of any absent owner shall be retained, or the proceeds invested for the owner’s benefit, under an order of the court.