In Iowa, tax sale certificates to parcels of real estate with delinquent taxes are sold by the county treasurer at the regular annual tax sale in June of each year. See Iowa Code Section 446.7. A certificate holder may not initiate procedures to foreclose on the certificate until one year and nine months after the tax sale. See Iowa Code Section 447.9. Foreclosure procedures require a certificate holder to serve 90-day redemption notices on all persons with interest in the parcel, and to commence the 90-day redemption period by filing an affidavit of service with the county treasurer. See Iowa Code Sections 447.9 and 447.12. If the parcel is not redeemed by the end of the 90-day redemption period, the certificate holder is entitled to receive a tax sale deed from the county treasurer. See Iowa Code Section 448.1.
Iowa Code Section 446.37 requires that a tax sale certificate will automatically expire if the holder does not file the affidavit of service of the 90-day redemption notice with the county treasurer before the third anniversary of the tax sale. Purchasers of tax sale certificates at the June 2005 tax sale should be aware of this important statutory requirement and allow themselves ample time to commence and complete foreclosure procedures before their certificates expire in June 2008.
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