§ Rule 1.1222. Approval or disapproval of sale; conveyance; security

Codes > Iowa Rules of Civil Practice and Procedure > Chapter 1 > Division XII > Rule 1.1222.

Rule 1.1222. Approval or disapproval of sale; conveyance; security

1.1222(1) The court may dispense with approval of a public sale of personal property, which may then be sold on full payment of the price bid. All other sales shall be subject to the approval of the court. The court by express order may approve a private sale though it be for less than the appraised value.

1.1222(2) No real estate shall be conveyed until the sale is approved by the court. No conveyance shall be made until the price is fully paid.

1.1222(3) If the sale is disapproved, the money paid and the securities given must be returned to the persons entitled thereto.

1.1222(4) The court in its discretion may require all or any of the parties, before they receive the monies arising from any sale, to give satisfactory security to refund the same, with interest, in case it afterward appears such parties were not entitled thereto.