654.9A Release of superior liens by bond. At any time prior to the court’s decree, the plaintiff, or a person guaranteeing title of the plaintiff’s mortgage, may post a bond with sureties to be approved by the clerk and apply tothe court to release the claim against the property of any person claiming a lien superior tothat of the plaintiff in the property subject to foreclosure. The bond shall be in an amountnot less than twice the amount of the claim, and notice of the bond and the court’s order ofrelease shall be served on the claimant. Unless the claimant has appeared in the foreclosureaction, the service shall be by personal service. Unless the claimant files an action on the bondwithin twelve months from service of the notice, the claimant shall be barred from any furtherremedy. In a successful action on the bond, the court may award the claimant reasonableattorney fees. A guarantor filing such a bond shall be subrogated to any defenses which theplaintiff may have against the adverse claimant, including but not limited to a defense of lackof equity in the mortgaged property to secure the adverse claim in its proper priority. efenses which theplaintiff may have against the adverse claimant, including but not limited to a defense of lackof equity in the mortgaged property to secure the adverse claim in its proper priority. 2006 Acts, ch 1132, §7, 16 Sat Dec 23 12:22:00 2023 Iowa Code 2024, Section 654.9A (21, 0)
Iowa Legal Code