Legal Question in Real Estate Law in Iowa

Re: real estate law

I would answer your question yes, at least in general there is. Whether there has been a sale of the home, however, should not make any difference.

The last time I checked there was a fifteen year statute that worked like this: you have to get a copy of the mortgage document and examine it to see if it has a maturity date. Most mortgages would. Then add fifteen years to the maturity date. If it's past that fifteen years, the mortgage should be unenforceable.

These sorts of things tend to have a lot of ifs, buts and maybes. For example, if there is no maturity date, then you just add the fifteen years to the date of the mortgage document. If I represented the person or company holding the mortgage, I would argue that any payment made on the mortgage starts the fifteen years running again; this is probably not true, but it is true for other kinds of debts and the question should be ruled out.

You would be well advised to consult a lawyer about this. Good luck.