Updated on August 30th, 2022
An Iowa deed of trust is a document that appoints a trustee who will hold a property title until a borrower (the property owner) has repaid a loan to a lender. The borrower retains the use and enjoyment of the property, while the trustee is given legal ownership (title). If the borrower pays back the loan in accordance with the terms of the deed of trust, the title will be transferred to them in full. In the event that the borrower defaults on the loan, the property may be foreclosed. To complete a foreclosure non-judicially, the parties must follow the rules set out in § 654.18.
- Statutes: Ch. 654
- Formatting: §§ 331.606B and 558.19(4)
- Signing requirements (§ 558.20): Notary Public
- Where to record: County Recording Office
- Recording fees (Iowa Land Records, §§ 331.507(2)(a), 428A.1): First page: $7; $5 each for any additional pages. Additional fees and transfer taxes may also apply.
Related Forms (1)
Iowa Promissory Note – A lending agreement in which the borrower promises to repay the lender in accordance with the agreed terms.
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