Iowa Code 558B.1 – Definitions
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Terms Used In Iowa Code 558B.1
- Contract: A legal written agreement that becomes binding when signed.
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
- property: includes personal and real property. See Iowa Code 4.1
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
558B.1 Definitions.
As used in this chapter, unless the context otherwise requires:
1. a. “”Common interest community”” means real estate described in a declaration with respect to which a person, by virtue of the person’s ownership of a unit, is obligated to pay for a share of real estate taxes, insurance premiums, maintenance, or improvement of, or services or other expenses related to, common elements, other units, or other real estate described in the declaration. “”Common interest community”” includes a planned community, a cooperative under chapter 499A, and a horizontal property regime under chapter 499B.
b. “”Common interest community”” does not include any of the following:
(1) A covenant that requires the owners of separate parcels of real estate to share costs or other obligations related to a wall, driveway, well, or other similar structure, unless all such owners consent in writing to the creation of a common interest community.
(2) Real estate described in paragraph “”a”” if all units are owned by a single owner.
2. “”Consumer”” means a natural person being provided a service under a service agreement, or the natural person’s legal representative.
3. “”Record”” means presentation of a document to a county recorder in this state for official placement in the public land records.
4. “”Residential real estate”” means real property located in this state which is used primarily for personal, family, or household purposes and is improved by one to four dwelling units.
5. “”Service agreement”” means a contract under which a person agrees to provide a service in connection with the maintenance of, the purchase of, or the sale of, residential real estate.
2023 Acts, ch 47, §1
NEW section
As used in this chapter, unless the context otherwise requires:
1. a. “”Common interest community”” means real estate described in a declaration with respect to which a person, by virtue of the person’s ownership of a unit, is obligated to pay for a share of real estate taxes, insurance premiums, maintenance, or improvement of, or services or other expenses related to, common elements, other units, or other real estate described in the declaration. “”Common interest community”” includes a planned community, a cooperative under chapter 499A, and a horizontal property regime under chapter 499B.
b. “”Common interest community”” does not include any of the following:
(1) A covenant that requires the owners of separate parcels of real estate to share costs or other obligations related to a wall, driveway, well, or other similar structure, unless all such owners consent in writing to the creation of a common interest community.
(2) Real estate described in paragraph “”a”” if all units are owned by a single owner.
2. “”Consumer”” means a natural person being provided a service under a service agreement, or the natural person’s legal representative.
3. “”Record”” means presentation of a document to a county recorder in this state for official placement in the public land records.
4. “”Residential real estate”” means real property located in this state which is used primarily for personal, family, or household purposes and is improved by one to four dwelling units.
5. “”Service agreement”” means a contract under which a person agrees to provide a service in connection with the maintenance of, the purchase of, or the sale of, residential real estate.
2023 Acts, ch 47, §1
NEW section