714F.4 Contract cancellation. 1. In addition to any other right of rescission, the foreclosed homeowner has the right to cancel any contract with a foreclosure purchaser until midnight of the third business dayfollowing the day on which the foreclosed homeowner signs a contract that complies withthis chapter or until 8:00 a.m. on the last day of the period during which the foreclosedhomeowner has a right of redemption, whichever occurs first. 2. Cancellation occurs when the foreclosed homeowner delivers, by any means, written notice of cancellation, provided that, at a minimum, the contract and the notice ofcancellation contains a physical address to which notice of cancellation may be mailed orotherwise delivered. A post office box does not constitute a physical address. A post officebox may be designated for delivery by mail only if it is accompanied by a physical address atwhich the notice could be delivered by a method other than mail. An electronic mail addressmay be provided in addition to the physical address. If cancellation is mailed, delivery iseffective upon mailing. If electronically mailed, cancellation is effective upon transmission. 3. ail addressmay be provided in addition to the physical address. If cancellation is mailed, delivery iseffective upon mailing. If electronically mailed, cancellation is effective upon transmission. 3. A notice of cancellation given by the foreclosed homeowner need not take the particular form as provided with the contract. 4. Within ten days following receipt of a notice of cancellation given in accordance with this section, the foreclosure purchaser shall return without condition any original contractand any other documents signed by the foreclosed homeowner. 2008 Acts, ch 1125, §13, 19; 2009 Acts, ch 41, §167; 2017 Acts, ch 54, §76Referred to in §714F.6 Sat Dec 23 12:29:51 2023 Iowa Code 2024, Section 714F.4 (16, 0)
Iowa Legal Code