BanksS
Posts: 403
Posts: 403
Posted:
Hi All,
http://amesiowalaw.wordpress.com/tag/homeowners-association/
To those interested, the Iowa legislature amended Iowa Code 614.24. It's an amendment to the Iowa 21-year time limit to preserve certain covenants and restrictions.
My interpretation is that certain common elements are not now bound by the 21-year time limit to preserve and the law attempts to list those elements such as roads, wells, etc. I see this as a positive law for Iowa HOA's owning those particular elements and their need to assess members for the operation and maintenance of those elements.
The law took affect July 1, 2014.
http://amesiowalaw.wordpress.com/tag/homeowners-association/
To those interested, the Iowa legislature amended Iowa Code 614.24. It's an amendment to the Iowa 21-year time limit to preserve certain covenants and restrictions.
My interpretation is that certain common elements are not now bound by the 21-year time limit to preserve and the law attempts to list those elements such as roads, wells, etc. I see this as a positive law for Iowa HOA's owning those particular elements and their need to assess members for the operation and maintenance of those elements.
The law took affect July 1, 2014.