628.29 - REDEMPTION BY CREDITOR PURSUANT TO ALTERNATIVE FORECLOSURE.
628.29 REDEMPTION BY CREDITOR PURSUANT TO ALTERNATIVE FORECLOSURE. A lienholder of record may redeem real property which has been foreclosed by a mortgagee pursuant to the alternative voluntary foreclosure procedure provided in section 654.18. The junior lienholders' redemption period shall be thirty days commencing the day the notice required by section 654.18, subsection 1, paragraph "e" is sent. The redemption shall be made by payment to the mortgagee of the amount of the debt secured by the mortgage including any protective advances made pursuant to chapter 629. Upon payment, the mortgagee shall convey the property by special warranty deed to the redeeming junior lienholder.
Section History: Recent Form 85 Acts, ch 252, §44 Referred to in § 654.18