Iowa Code 633.388 – Petition to sell, mortgage, exchange, pledge or lease property
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Terms Used In Iowa Code 633.388
- Estate: means the real and personal property of either a decedent or a ward, and may also refer to the real and personal property of a trust described in section 633. See Iowa Code 633.3
- 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
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- personal property: include money, goods, chattels, evidences of debt, and things in action. See Iowa Code 4.1
- Personal property: All property that is not real property.
- Property: includes both real and personal property. See Iowa Code 633.3
A petition to sell, mortgage, exchange, pledge or lease any real or personal property shall set forth the reasons for the application and describe the property involved. It may apply for different authority as to separate parts of the property; or it may apply in the alternative for authority to sell, mortgage, exchange, pledge or lease. Whenever it is for the best interests of the estate, real and personal property of the estate may be sold, mortgaged, exchanged, pledged or leased as a unit.