1. a. Except as otherwise provided in subsection 2, if a homestead exemption waiver is contained in a written contract affecting agricultural land as defined in section 9H.1, or dwellings, buildings, or other appurtenances located on the land, the contract must contain a statement in substantially the following form, in boldface type of a minimum size of ten points, and be signed and dated by the person waiving the exemption at the time of the execution of the contract: I understand that homestead property is in many cases protected from the claims of creditors and exempt from judicial sale; and that by signing this contract, I voluntarily give up my right to this protection for this property with respect to claims based upon this contract.
b. A principal or deputy state, county, or city officer shall not be required to waive the officer’s homestead exemption in order to be bonded as required pursuant to chapter 64.
2. This section shall not apply to a written contract affecting agricultural land of less than forty acres. 86 Acts, ch 1214, §8; 87 Acts, ch 67, §1; 89 Acts, ch 153, §3; 2005 Acts, ch 86, §1 \n 561.23 through 561.25 Reserved. \n
Notes of Decisions
Iowa State Bank & Trust Co. v. Michel, 683 N.W.2d 95 (Iowa 2004).
· cites it 84× “” Iowa Code § 561.22 (italics added). 2 The legislature hoped this additional “procedural step” in the waiver of homestead rights on agricultural land would “encourage second thoughts about executing the waiver” by “reminding] the person signing the waiver that it was important.”
Chelsea State Bank v. Wagner (In Re Wagner), 259 B.R. 694 (8th Cir. BAP 2001).
· cites it 25× “*697 ISSUE The issues on appeal are whether the Bank’s mortgages are enforceable against the Debtors’ homestead when the Bank failed to insert in the mortgages a homestead waiver as required pursuant to Iowa Code § 561.22 and whether the bankruptcy court erred by finding that…”
Peoples Bank & Trust Co. of Cedar Rapids v. Lala, 392 N.W.2d 179 (Iowa Ct. App. 1986).
· cites it 14× “22 provides: If a homestead exemption waiver is contained in a written contract, the contract must contain a statement in substantially the following form, in boldface type of a minimum size of ten points, and be signed and dated by the person waiving the exemption at the time…”
Est. of Darby v. Stinson, 68 So. 3d 702 (Miss. Ct. App. 2011).
· cites it 2× “…this protection for this property with respect to claims based upon this contract." N.D. Cent.Code. § 47-18-05.1 and Iowa Code Ann. § 561.22 .”
In Re Hebert, 301 B.R. 19 (Bankr. D. Iowa 2003).
“2 (Iowa 1986) (as enacted in 1986, § 561.22 applied to waiver of any homestead).”
Chelsea Sav. Bank v. John C. Wagner (8th Cir. BAP 2001).
· cites it 25× “ISSUE The issues on appeal are whether the Bank’s mortgages are enforceable against the Debtors’ homestead when the Bank failed to insert in the mortgages a homestead waiver as required pursuant to Iowa Code § 561.22 and whether the bankruptcy court erred by finding that the…”
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