Iowa Code § 554.2502

Buyer’s right to goods on seller’s repudiation, failure to deliver, or insolvency
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1. Subject to subsections 2 and 3 and even though the goods have not been shipped a buyer who has paid a part or all ofthe price of goods inwhich the buyer has a special property under the provisions of section 554.2501 may on making and keeping good a tender of any unpaid portion of their price recover them from the seller if: a. in the case of goods bought for personal, family, or household purposes, the seller repudiates or fails to deliver as required by the contract; or b. in all cases the seller becomes insolvent within ten days after receipt of the first installment on their price. 2. The buyer’s right to recover the goods under subsection 1, paragraph “a”, vests upon acquisition of a special property, even ifthe seller had not then repudiated or failed to deliver. 3. Ifthe identification creating the buyer’s special property has been made by the buyer, the buyer acquires the right torecover the goods only ifthey conform to the contract for sale.

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