Iowa Code 321I.33 – Transfer or repossession by operation of law
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1. If ownership of an all-terrain vehicle is transferred by operation of law, such as by inheritance, order in bankruptcy, insolvency, replevin, or execution sale, the transferee, within thirty days after acquiring the right to possession of the all-terrain vehicle, shall mail or deliver to the county recorder of the transferee’s county of residence satisfactory proof of ownership as the county recorder requires, together with an application for a new certificate of title, and the required fee. However, if the transferee is the surviving spouse of the deceased owner, the county recorder shall waive the required fee.
Terms Used In Iowa Code 321I.33
- All-terrain vehicle: means a motorized vehicle with not less than three and not more than six nonhighway tires that is limited in engine displacement to less than one thousand cubic centimeters and in total dry weight to less than one thousand two hundred pounds and that has a seat or saddle designed to be straddled by the operator and handlebars for steering control. See Iowa Code 321I.1
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Days: means calendar days. See Iowa Code 322G.2
- Owner: means a person, other than a lienholder, having the property right in or title to an all-terrain vehicle. See Iowa Code 321I.1
- Vehicle: means any vehicle as defined in chapter 321. See Iowa Code 321H.2
2. If a lienholder repossesses an all-terrain vehicle by operation of law and holds it for resale, the lienholder shall secure a new certificate of title and shall pay the required fee.