Iowa Code 455I.10 – Amendment or termination by consent
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1. An environmental covenant may be amended or terminated by consent only if the amendment or termination is signed by all of the following:
a. The agency.
b. The current owner in fee simple of the real property subject to the environmental covenant.
c. Each person that originally signed the environmental covenant or an assignee of an original signatory, unless the person waived in a recorded document the right to consent or the agency finds that the person no longer exists or cannot be located or identified with the exercise of reasonable diligence.
d. Except as otherwise provided in subsection 4, paragraph “b”, the holder.
Terms Used In Iowa Code 455I.10
- Agency: means the department of natural resources created by section 455A. See Iowa Code 455I.2
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Environmental covenant: means a servitude arising under an environmental response project that imposes activity and use limitations or the written document creating such servitude. See Iowa Code 455I.2
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- 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
- Holder: means the grantee of an environmental covenant as specified in section 455I. See Iowa Code 455I.2
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Owner: means a person, other than a lienholder, having the property right in or title to a motorboat or vessel. See Iowa Code 462A.2
- Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government, governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Iowa Code 455I.2
- property: includes personal and real property. See Iowa Code 4.1
2. If an interest in real property is subject to an environmental covenant, the interest is not affected by an amendment to the environmental covenant unless the current owner of the interest consents to the amendment or has waived in a recorded document the right to consent to amendments.
3. Except for an assignment undertaken pursuant to a governmental reorganization, assignment of an environmental covenant to a new holder is an amendment.
4. Except as otherwise provided in an environmental covenant, all of the following apply:
a. A holder may not assign its interest without consent of the other parties as provided in subsection 1.
b. A holder may be removed and replaced by agreement of the other parties specified in subsection 1.
c. A court of competent jurisdiction may fill a vacancy in the position of holder.