Iowa Laws
Requirement to Record: Must be recorded within 90 days of the contract being signed at the office of the county recorder where the property is located.[1]
Expiration: In Iowa, constructive notice does not have a specific expiration date.
Maximum Term: There is no statutory maximum term for a residential lease with an option to purchase.
No Duration: An option without a specific duration will expire automatically at the end of the lease.
Signing Requirements: Must be in writing and signed by the seller.[2]
Required Disclosures (4)
1. Agent/Landlord Identification – Any person authorized to act in the place of the landlord must be listed in the contract in addition to the address where notices are received.[3]
2. Comprehensive Environmental Response Compensation and Liability Information System – If the property is listed in this database, provided by the Federal Environmental Protection Agency, it must be known to the tenant in their contract. Refer to this Wikipedia page or search specific site locations at NETRonline.[4]
3. Lead-Based Paint Disclosure & EPA Pamphlet – Federal law mandates that landlords and managers inform any new tenant of the possibility of lead-based paint if the property was built before 1978.[5]
4. Shared Utilities – If the tenant is not directly billed by a utility company for charges, the landlord must fully explain utility rates, charges, and services to the tenant.[6]
Seller’s Disclosures (2)
1. Radon Disclosure Fact Sheet (optional) – Not required but recommended to be given to prospective buyers as a reference to radon information.
2. Seller Property Condition Disclosure (required) – The seller must complete this disclosure form and send it to any potential buyers. This form covers structural and material damage to the property, environmental and zoning information surrounding the property, and any other relevant information.[7]