321I.33 - TRANSFER OR REPOSSESSION BY OPERATION OF LAW. - Iowa Statutes

321I.33 TRANSFER OR REPOSSESSION BY OPERATION OF LAW. 1. If ownership of an all-terrain vehicle is transferred by operation of law, such as by inheritance, order in bankruptcy, insolvency, replevin, or execution sale, the transferee, within thirty days after acquiring the right to possession of the all-terrain vehicle, shall mail or deliver to the county recorder satisfactory proof of ownership as the county recorder requires, together with an application for a new certificate of title, and the required fee. 2. If a lienholder repossesses an all-terrain vehicle by operation of law and holds it for resale, the lienholder shall secure a new certificate of title and shall pay the required fee.          Section History: Recent Form 2004 Acts, ch 1132, §76