633.393 Purchase by holder of lien. At any sale of real or personal property upon which there is a mortgage, pledge, or other lien, the holder of such lien may become the purchaser, and may apply the amount of the lienon the purchase price in the following manner. If no claim thereon has been filed or allowed,the court, at the hearing on the report of sale and for confirmation of the sale, may examineinto the validity and enforceability of the lien or charge and the amount due thereunder andsecured thereby, and may authorize the personal representative to accept the receipt of suchpurchaser for the amount due thereunder and secured thereby as payment pro tanto. If suchmortgage, pledge, or other lien is a valid claim against the estate and has been allowed, thereceipt of the purchaser for the amount due the purchaser from the proceeds of the sale isa payment pro tanto. If the amount for which the property is purchased, whether or not aclaim for it has been filed or allowed, is insufficient to defray the expenses and dischargethe mortgage, pledge, or other lien, the purchaser must pay an amount sufficient to pay thebalance of such expenses. it has been filed or allowed, is insufficient to defray the expenses and dischargethe mortgage, pledge, or other lien, the purchaser must pay an amount sufficient to pay thebalance of such expenses. Nothing permitted under the terms of this section shall be deemedto be an allowance of a claim based upon such mortgage, pledge, or other lien. [C66, 71, 73, 75, 77, 79, 81, §633.393] Sat Dec 23 11:25:44 2023 Iowa Code 2024, Section 633.393 (35, 0)
Iowa Legal Code