Iowa Code 714F.7 – Arbitration prohibited
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Terms Used In Iowa Code 714F.7
- Contract: A legal written agreement that becomes binding when signed.
- Foreclosed homeowner: means an owner of residential real property, including a condominium, that is the primary residence of the owner and whose mortgage on the real property is or was in foreclosure, forfeiture, or tax sale. See Iowa Code 714F.1
A provision in a contract which attempts or purports to require arbitration of any dispute arising under this chapter is void at the option of the foreclosed homeowner.