Detailed Answer
When an heir to real property is a minor in Iowa, the child cannot legally consent to a sale or transfer. Iowa law requires court involvement to protect the minor’s interests. Generally, you must pursue one of these routes under Iowa Code Chapter 633:
- Guardianship of the Estate
A court-appointed guardian can manage or sell the minor’s property. Under Iowa Code § 633.457, the guardian must petition the county probate court for approval of the sale price, terms, and conditions. Once approved, the sale proceeds become part of the minor’s estate and remain in a secured account until the child reaches the age of majority. - Minor’s Compromise or Settlement
If the heirs or personal representative agree that a sale benefits the minor, you may file a petition for a minor’s compromise under Iowa Code § 633.641. The court evaluates whether the proposed transaction is fair and in the minor’s best interest. Upon approval, the court issues an order authorizing the sale and directing distribution of proceeds.
Alternatively, heirs may consider a partition action to divide the property. Even then, the minor’s share requires a guardian or trustee to sign on the child’s behalf. Throughout any process, the court supervises the transaction to ensure compliance with bonding, notice, and reporting requirements.
Helpful Hints
- Initiate guardianship proceedings promptly to avoid delaying property transactions.
- Obtain a current professional appraisal to support the sale price in court.
- Account for court costs, guardian bond premiums, and notice publication fees.
- Comply with notice requirements in Iowa Code Chapter 633 to all interested parties.
- Maintain comprehensive records of petitions, orders, and banking statements.
Disclaimer: This information is for educational purposes only and does not constitute legal advice. Consult a licensed Iowa attorney to address your specific situation.