Legal Question in Real Estate Law in Iowa

We have a unrecorded land contract and though our payments were on time and also carried house insurance, ect and made this house livable (toilet water heater oven stove roof ect) the seller is being foreclosed on. The bank is calling us parties in possession. We don't want to leave we have only been here a year we didn't know that he was not making payments we had given him 5000 down and all monthly payments and we have all the cashed checks through our bank. So what rights do we have and how long can we stay? If we go through the court system will we even have the right to stay? The house can not be financed through the bank do to the amount of work it still needs, and in truth this place has sentimental value (my other halfs grandfather owned it and his dad grew up here and his parents live next door). Is it even worth it to fight or do we just go after the man in foreclosure and hope theres enough money left over to get ours?


Asked on 5/21/14, 5:14 am

1 Answer from Attorneys
Robert Luedeman solo practitioner

You need to hire an attorney to determine the validity of the agreement and whether you have any rights to the property, in particular because of the holding in Stockbauer v. Schake, 789 N.W.2d 165 (Iowa Ct. App. 2010).

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Answered on 5/28/14, 7:05 am


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