Iowa Code 455I.5 – Validity — effect on other instruments
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1. An environmental covenant that complies with this chapter runs with the land.
Terms Used In Iowa Code 455I.5
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Contract: A legal written agreement that becomes binding when signed.
- 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
- 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
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- 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
- real property: include lands, tenements, hereditaments, and all rights thereto and interests therein, equitable as well as legal. See Iowa Code 4.1
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- 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
- Use: means to operate, navigate, or employ a vessel. See Iowa Code 462A.2
2. An environmental covenant that is otherwise effective is valid and enforceable even if any of the following applies to the environmental covenant:
a. The environmental covenant is not appurtenant to an interest in real property.
b. The environmental covenant can be or has been assigned to a person other than the original holder.
c. The environmental covenant is not of a character that has been recognized traditionally at common law.
d. The environmental covenant imposes a negative burden.
e. The environmental covenant imposes an affirmative obligation on a person having an interest in the real property or on the holder.
f. The benefit or burden does not touch or concern real property.
g. There is no privity of estate or contract.
h. The holder dies, ceases to exist, resigns, or is replaced.
i. The owner of an interest subject to the environmental covenant and the holder are the same person.
3. An instrument that creates restrictions or obligations with respect to real property that would qualify as activity and use limitations except for the fact that the instrument was recorded before July 1, 2005, is valid and enforceable and is not rendered invalid or unenforceable based upon any of the potential limitations on enforcement of interests described in subsection 2 or because it was identified as an easement, servitude, deed restriction, or other interest. This chapter does not apply in any other respect to such an instrument.
4. This chapter does not invalidate or render unenforceable any interest, whether designated as an environmental covenant or other interest, that was created prior to July 1, 2005, or that is otherwise enforceable under the laws of this state.