654.17A Sale free of liens. At any time during the pendency of the foreclosure, the plaintiff may apply to the court for an order approving an offer for a commercially reasonable sale of the property free of theclaims of the parties to the action and other persons served with notice pursuant to section654.15B. A copy of the offer shall be attached to the application and the application shallcontain a written consent to the proposed sale by all equitable titleholders who have notabandoned the property. The court may grant the motion unless a party in interest objects inwriting during such time as the court may prescribe. A person filing an objection with a claimjunior to the plaintiff shall either apply for assignment of senior claims pursuant to section654.8, otherwise provide adequate protection to senior creditors, or establish that a sheriff’ssale is substantially more likely than the proposed sale to provide the creditor with morefavorable satisfaction of its lien. Pending resolution of the rights of the parties and personsserved with notice pursuant to section 654.15B, the court shall place the net proceeds of thesale in escrow after payment of reasonable closing costs. solution of the rights of the parties and personsserved with notice pursuant to section 654.15B, the court shall place the net proceeds of thesale in escrow after payment of reasonable closing costs. The rights of such persons to theescrowed funds shall be determined in the same manner as their rights to the property thatwas sold. 2006 Acts, ch 1132, §11, 16 Sat Dec 23 12:22:07 2023 Iowa Code 2024, Section 654.17A (21, 0)
Iowa Legal Code