Iowa Code 626.37 – Creditor subrogated
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Terms Used In Iowa Code 626.37
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- clerk: means clerk of the court in which the action or proceeding is brought or is pending; and the words "clerk's office" mean the office of that clerk. See Iowa Code 4.1
- Collateral: means an individual who is related to another individual under the law of intestate succession of this state but who is not the other individual's ascendant or descendant. See Iowa Code 651.1
- Writ: A formal written command, issued from the court, requiring the performance of a specific act.
When such sum is paid to the secured party or deposited with the clerk, the attachment or execution creditor shall be subrogated to all the rights of such holder, and the proceeds of the sale of the collateral shall be first applied to the discharge of such indebtedness and the costs incurred under the writ of attachment or execution.