Iowa Code 562.9 – Termination of life estate — nonfarm tenancy
Current as of: 2023 | Check for updates
|
Other versions
Upon the termination of a life estate, a tenancy granted by the life tenant which is not a farm tenancy shall continue until one of the following first occurs:
1. The date previously agreed upon for termination of the tenancy without notice.
Terms Used In Iowa Code 562.9
- Farm tenancy: means a leasehold interest in land held by a person who produces crops or provides for the care and feeding of livestock on the land, including by grazing or supplying feed to the livestock. See Iowa Code 562.1A
- 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
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
- month: means a calendar month, and the word "year" and the abbreviation "A. See Iowa Code 4.1
- year: means twelve consecutive months. See Iowa Code 4.1
2. If the tenant is a tenant at will, upon the expiration of the period provided by section 562.4.
3. If the tenancy is for less than one year, sixty days after the end of the month in which the life estate terminated.
4. If the tenancy is for a year or more, one year after the end of the month in which the life estate terminated. However, if the lease is binding upon the holder of the successor interest by the provision of a trust or by specific commitment of the holder of the successor interest, the lease shall terminate as provided by that provision or commitment.