IA SSB3019

Amends Iowa Code Section 428A.1, subsection 2, regarding declaration of value requirements for real estate transfers recorded with county recorders.

Expands exemptions from the declaration of value requirement to include transfers resulting from corporate or limited liability company mergers, consolidations, or reorganizations.

Exempts deeds between family corporations, partnerships, limited liability partnerships, or limited liability companies and their stockholders, partners, or members when transferring property during incorporation, dissolution, or organization with no consideration other than shares or debt securities.

Exempts deeds transferring trust asset distributions to beneficiaries when conveyed without consideration.

Proposed by the Senate Judiciary Committee under Chairperson Schultz for the 91st General Assembly.