Iowa Code

Iowa Code § 654.20 (2026)

Foreclosure without redemption — nonagricultural land

✓ current as of July 2026

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1. If the mortgaged property is not used for an agricultural purpose as defined in section 535.13, the plaintiff in an action to foreclose a real estate mortgage may include in the petition an election for foreclosure without redemption. The election is effective only if the first page of the petition contains the following notice in capital letters of the same type or print size as the rest of the petition: NOTICE THE PLAINTIFF HAS ELECTED FORECLOSURE WITHOUT REDEMPTION. THIS MEANS THAT THE SALE OF THE MORTGAGED PROPERTY WILL OCCUR PROMPTLY AFTER ENTRY OF JUDGMENT UNLESS YOU FILE WITH THE COURT A WRITTEN DEMAND TO DELAY THE SALE. IF YOU FILE A WRITTEN DEMAND, THE SALE WILL BE DELAYED UNTIL SIX MONTHS (or THREE MONTHS if the petition includes a waiver of deficiency judgment) FROM ENTRY OF JUDGMENT IF THE MORTGAGED PROPERTY IS YOUR RESIDENCE AND IS A ONE-FAMILY OR TWO-FAMILY DWELLING OR UNTIL TWO MONTHS FROM ENTRY OF JUDGMENT IF THE MORTGAGED PROPERTY IS NOT YOUR RESIDENCE OR IS YOUR RESIDENCE BUT NOT A ONE-FAMILY OR TWO-FAMILY DWELLING. YOU WILL HAVE NO RIGHT OF REDEMPTION AFTER THE SALE. THE PURCHASER AT THE SALE WILL BE ENTITLED TO IMMEDIATE POSSESSION OF THE MORTGAGED PROPERTY. YOU MAY PURCHASE AT THE SALE.

2. If the plaintiff has not included in the petition a waiver of deficiency judgment, then the notice shall include the following: IF YOU DO NOT FILE A WRITTEN DEMAND TO DELAY THE SALE AND IF THE MORTGAGED PROPERTY IS YOUR RESIDENCE AND IS A ONE-FAMILY OR TWO-FAMILY DWELLING, THEN A DEFICIENCY JUDGMENT WILL NOT BE ENTERED AGAINST YOU. IF YOU DO FILE A WRITTEN DEMAND TO DELAY THE SALE, THEN A DEFICIENCY JUDGMENT MAY BE ENTERED AGAINST YOU IF THE PROCEEDS FROM THE SALE OF THE MORTGAGED PROPERTY ARE INSUFFICIENT TO SATISFY THE AMOUNT OF THE MORTGAGE DEBT AND COSTS.\n\nTue Dec 09 21:58:09 2025 Iowa Code 2026, Chapter 654 (36, 2) §654.20, FORECLOSURE OF REAL ESTATE MORTGAGES 16\n\n IF THE MORTGAGED PROPERTY IS NOT YOUR RESIDENCE OR IS NOT A ONE-FAMILY OR TWO-FAMILY DWELLING, THEN A DEFICIENCY JUDGMENT MAY BE ENTERED AGAINST YOU WHETHER OR NOT YOU FILE A WRITTEN DEMAND TO DELAY THE SALE.

3. If the election for foreclosure without redemption is made, then sections 654.21 through 654.26 apply. 87 Acts, ch 142, §6; 2013 Acts, ch 30, §195; 2018 Acts, ch 1148, §4 Referred to in §455B.751, 628.1A, 654.1A, 654.5, 654.20A\n\n 654.20A Rights reserved. A mortgage or deed of trust shall not contain the notice under section 654.20. 87 Acts, ch 142, §15 \n

Notes of Decisions

Cited in 9 cases (1 in the last 5 years), 1990–2023 · leading case: Morris Plan Co. of Iowa v. Bruner, 458 N.W.2d 853 (Iowa Ct. App. 1990).

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Morris Plan Co. of Iowa v. Bruner, 458 N.W.2d 853 (Iowa Ct. App. 1990). · cites it 20× “Specifically, the defendants complain that the plaintiff elected to foreclose without redemption, under Iowa Code Section 654.20, and failed to give all of the notice required by that statute.”

West Des Moines State Bank v. Pameco, Inc., 501 N.W.2d 555 (Iowa Ct. App. 1993). · cites it 5× “The Bank elected to proceed by foreclosure without redemption, pursuant to Iowa Code sections 654.20 through 654.26 (1991), and filed its petition in district court on August 6,1991.”

Fed. Land Bank of Omaha v. Faught Bros., Inc., 468 N.W.2d 793 (Iowa 1991). · cites it 2× “A special execution shall issue accordingly, and the sale under the special execution is subject to redemption as in cases of sale under general execution unless the plaintiff has elected foreclosure without redemption under section 654.20. Section 654.6 provides: If the…”

United States v. Lowe, 655 F. Supp. 2d 925 (S.D. Iowa 2009). · cites it 7× “21 provides an alternative procedure that mortgagors may request if their lender elects for foreclosure without redemption under Iowa Code § 654.20 , “Foreclosure without redemption — Nonagricultural land.”

Nash Finch Co. v. Corey Dev., Ltd., 231 F. Supp. 2d 882 (N.D. Iowa 2002). · cites it 4× “The property then will be sold under a special execution, subject to redemption unless the plaintiff elects to foreclose without redemption under section 654.20. Section 654.20 and the sections that follow it provide that nonagricultural land may be foreclosed without redemption…”

Wells Fargo Bank, N.A. v. The Est. of Donald Leonard Morrison (Iowa Ct. App. 2018). · cites it 2× “See Iowa Code § 654.20 (2016). The petition alleged an unpaid balance of $72,493.”

U.S. Bank Nat'l Ass'n v. Michael Parrott, Heirs of Dolores Marie Lisk, Eric Lisk, Unknown Heirs of Dolores Marie Lisk, Creditors of Dolores Marie Lisk, State of Iowa, & Parties in Possession, 922 N.W.2d 105 (Iowa Ct. App. 2018). · cites it 2× “Bank filed a petition seeking foreclosure of the mortgage without redemption, under Iowa Code section 654.20 (2016), and waived its right to a deficiency judgment.”

U.S. Bank v. Cassady (Iowa Ct. App. 2023). · cites it 2× “Here, the plaintiff elected to foreclose on the property without redemption under Iowa Code section 654.20. U.S. Bank held the senior and second-most senior liens on the property, and so after the senior lien was paid off, the surplus proceeds should have gone to pay off U.”

Prentice W. Malott & Lindsey B. Malott v. Bevard Props., L.C., d/b/a Bevard Props., L.C.-Series 22 & Thomas B. Bevard (Iowa Ct. App. 2020). “Then, and only then, did Bevard proceed to seek foreclosure of the contract without redemption under Iowa Code sections 654.20 through 654.26. We have recognized: “[t]he right to join related causes of action does not bar subsequent litigation of a distinct cause of action that…”

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