614.14 Real estate interest transferred by trustee. 1. If an interest in real estate is held of record by a trustee, a bona fide purchaser acquires all rights in the real estate which the trustee and the beneficiary of the trust had and any rightsof persons claiming by, through or under them, free of any adverse claim including but notlimited to claims arising under section 561.13 or claims relating to an interest in real estatearising under section 633.238. 2. A bona fide purchaser is a purchaser for value in good faith and without notice of any adverse claim, who has relied on a current, recorded affidavit in substantially the followingform delivered to the purchaser: [Individual trustee] Affidavit in re [insert legal description] I, ............................, being first duly sworn and under oath state of my personal knowledge that: [1] I am the trustee under the trust dated ............................, to which the above-described real estate was conveyed to the trusteeby ............................, pursuant to an instrument recorded the ............day of ........................ [month], ................ [year], recorded in theoffice of the ........................ ..........................., pursuant to an instrument recorded the ............day of ........................ [month], ................ [year], recorded in theoffice of the ........................ County Recorder in ........................ [insert recording data]. [2] I am the presently existing trustee under the trust and am authorized to ............................ [describe the transfer to be madeby the trustee to the bona fide purchaser], without any limitation orqualification whatsoever. [3] The trust is in existence and I as trustee am authorized to transfer the interests in the real estate as described in paragraph[2], free and clear of any adverse claims.....................................................[signature of affiant] Sworn to and subscribed before me by .................................... on this ................ day of ........................ [month], ................ [year]....................................................[Notary Public in and forthe State of ........................] [Corporate trustee] Affidavit in re [insert legal description] I, ............................, being first duly sworn and under oath state of my personal knowledge State of ........................] [Corporate trustee] Affidavit in re [insert legal description] I, ............................, being first duly sworn and under oath state of my personal knowledge that: [1] ............................ is the trustee under the trust dated ........................, to which the above-described real estate wasconveyed to the trustee by ........................, pursuant to an instrumentrecorded the ............ day of ........................ [month], ................ [year], recorded in the office of the ........................ County Recorderin ........................ [insert recording data]. [2] ............................ is the presently existing trustee under the trust and is authorized to ................................ [describe the transferto be made by the trustee to the bona fide purchaser], withoutany limitation or qualification whatsoever, and I am ........................[officer] of the corporate trustee. Sat Dec 23 11:18:35 2023 Iowa Code 2024, Section 614.14 (23, 0) §614.14, LIMITATIONS OF ACTIONS 2 [3] The trust is in existence and ........................ .......[officer] of the corporate trustee. Sat Dec 23 11:18:35 2023 Iowa Code 2024, Section 614.14 (23, 0) §614.14, LIMITATIONS OF ACTIONS 2 [3] The trust is in existence and ........................ as trustee is authorized to transfer the interests in the real estate as describedin paragraph [2], free and clear of any adverse claims.....................................................[signature of affiant] Sworn to and subscribed before me by ...................................., on this ................ day of ........................ [month], ................ [year]....................................................[Notary Public in and forthe State of ........................] 3. As used in this section, 'adverse claim' includes a claim that a transfer was or would be wrongful, a claim that a particular adverse person is the owner of or has an interest in thereal estate, and a claim that would be disclosed by the examination of any document not ofrecord. 4. Unless clearly provided to the contrary by the instrument of transfer to a purchaser, a trustee transferring an interest in real estate warrants to the transferee all of the following: a. frecord. 4. Unless clearly provided to the contrary by the instrument of transfer to a purchaser, a trustee transferring an interest in real estate warrants to the transferee all of the following: a. That the trust pursuant to which the transfer is made is duly executed and in existence.b. That, to the knowledge of the trustee, the person creating the trust was under no disability or infirmity at the time the trust was created. c. That the transfer by the trustee to the purchaser is effective and rightful.d. That the trustee knows of no facts or legal claims which might impair the validity of the trust or the validity of the transfer. 5. a. A person holding an adverse claim arising or existing prior to January 1, 2009, by reason of a transfer of an interest in real estate by a trustee, or a purported trustee, shall notfile an action to enforce such claim after December 31, 2010, at law or in equity, in any courtto recover or establish any interest in or claim to such real estate, legal or equitable, againstthe holder of the record title to the real estate. b. An action based upon an adverse claim arising on or after January 1, 2009, by reason of a transfer of an interest in real al or equitable, againstthe holder of the record title to the real estate. b. An action based upon an adverse claim arising on or after January 1, 2009, by reason of a transfer of an interest in real estate by a trustee, or a purported trustee, shall not bemaintained either at law or in equity, in any court to recover or establish any interest in orclaim to such real estate, legal or equitable, against the holder of the record title to the realestate, legal or equitable, more than one year after the date of recording of the instrumentfrom which such claim may arise. 6. An interest in real estate held of record at any time by a trust shall be deemed to be held of record by the trustee of such trust. 7. This section shall not be construed to limit any personal action against the trustee or purported trustee. [S13, §3447; C24, 27, 31, 35, 39, §11021; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §614.14] 91 Acts, ch 183, §33; 92 Acts, ch 1014, §1, 2; 92 Acts, ch 1163, §115; 99 Acts, ch 56, §1; 2000 Acts, ch 1058, §65; 2008 Acts, ch 1119, §12, 13, 39; 2009 Acts, ch 52, §1, 14 Referred to in §614.16 Sat Dec 23 11:18:35 2023 Iowa Code 2024, Section 614.14 (23, 0)
Iowa Legal Code