Chapter 76 — REAL PROPERTY
1,095 sections in this chapter.
Neb. Rev. Stat. § 76-1001 Terms, defined.
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As used in sections 76-1001 to 76-1018, unless the context otherwise requires: (1) Beneficiary shall mean the person named or otherwise designated in a trust deed as the person for whose benefit a trust deed is given, or his successor in interest; (2) Trustor shall mean the perso…
Neb. Rev. Stat. § 76-1002 Transfers in trust; real property; purpose.
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(1) Transfers in trust of real property may be made to secure (a) existing debts or obligations, (b) debts or obligations created simultaneously with the execution of the trust deed, (c) future advances necessary to protect the security, even though such future advances cause the…
Neb. Rev. Stat. § 76-1003 Trustee; qualification.
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(1) The trustee of a trust deed shall be: (a) A member of the Nebraska State Bar Association or a licensed real estate broker of Nebraska; (b) Any bank, building and loan association, savings and loan association, or credit union authorized to do business in Nebraska under the la…
Neb. Rev. Stat. § 76-1004 Successor trustee; appointment by beneficiary; effect; substitution of trustee; recording; form.
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(1) The beneficiary may appoint a successor trustee at any time by filing for record in the office of the register of deeds of each county in which the trust property or some part thereof is situated a substitution of trustee. From the time the substitution is filed for record, t…
Neb. Rev. Stat. § 76-1005 Power of sale conferred on trustee.
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A power of sale may be conferred upon the trustee which the trustee may exercise and under which the trust property may be sold in the manner provided in the Nebraska Trust Deeds Act after a breach of an obligation for which the trust property is conveyed as security, or at the o…
Neb. Rev. Stat. § 76-1006 Sale of trust property; notice of default; trustee or attorney for trustee; designate person to receive notices; when.
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(1) The power of sale conferred in the Nebraska Trust Deeds Act upon the trustee shall not be exercised until: (a) The trustee or the attorney for the trustee shall first file for record in the office of the register of deeds of each county wherein the trust property or some part…
Neb. Rev. Stat. § 76-1007 Sale of trust property; notice; contents; time and place of sale.
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(1) The trustee or the attorney for the trustee shall give written notice of the time and place of sale particularly describing the property to be sold by publication of such notice, at least five times, once a week for five consecutive weeks, the last publication to be at least …
Neb. Rev. Stat. § 76-1008 Notice of default and sale; request for copies; mailing of notice; publication of notice of default; when.
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(1) Any person desiring a copy of any notice of default and of any notice of sale under any trust deed may, at any time subsequent to the filing for record of the trust deed and prior to the filing for record of a notice of default thereunder, file for record in the office of the…
Neb. Rev. Stat. § 76-1009 Sale of trust property; public auction; bids; postponement of sale; notice.
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On the date and at the time and place designated in the notice of sale, the trustee shall sell the property at public auction to the highest bidder. The attorney for the trustee may conduct the sale. Any person, including the beneficiary, may bid at the sale. Every bid shall be d…
Neb. Rev. Stat. § 76-101 Terms, defined.
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As used in sections 76-101 to 76-123 and unless a different meaning appears from the context: (a) The term property means one or more interests either legal or equitable, possessory or nonpossessory, present or future, in land, or in things other than land, including choses in ac…
Neb. Rev. Stat. § 76-1010 Sale of trust property; bid; payment; delivery of deed; recitals; effect; rights of trustor; terminated, when.
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(1) The purchaser at the sale shall forthwith pay the price bid, and upon receipt of payment, the trustee shall execute and deliver his or her deed to such purchaser. The trustee's deed may contain recitals of compliance with the requirements of the Nebraska Trust Deeds Act relat…
Neb. Rev. Stat. § 76-1011 Sale of trust property; proceeds of sale; disposition.
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(1) The trustee shall apply the proceeds of the trustee's sale in the following order of priority: (a) First, the proceeds shall be applied to the costs and expenses of exercising the power of sale and of the sale, including the payment of the trustee's fees actually incurred not…
Neb. Rev. Stat. § 76-1011.01 Sale of trust property; proceeds of sale; disposition; objecting party; attorney's fees and costs.
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If a court enters a judgment in favor of the holder of a trust deed, mortgage, or other lien in any interpleader action, action for declaratory judgment, or any other similar action resulting from an objection to or the uncertainty of the proposed payment of proceeds of the trust…
Neb. Rev. Stat. § 76-1012 Trust deed; default; reinstatement; recorded notice of default; cancellation; costs and expenses.
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(1) Whenever all or a portion of the principal sum of any obligation secured by a trust deed has, prior to the maturity date fixed in such obligation, become due or been declared due by reason of a breach or default in the performance of any obligation secured by the trust deed, …
Neb. Rev. Stat. § 76-1013 Sale of trust property; deficiency; action; judgment; amount.
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At any time within three months after any sale of property under a trust deed, as hereinabove provided, an action may be commenced to recover the balance due upon the obligation for which the trust deed was given as security, and in such action the complaint shall set forth the e…
Repealed. Laws 1994, LB 1275, § 13.
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[Repealed or reserved.]
Neb. Rev. Stat. § 76-1014.01 Trust deed; reconveyance; beneficiary's obligation and liability.
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Section 76-2803 shall govern the beneficiary's obligation to record or cause to be recorded a deed of reconveyance and the liability of the beneficiary for failure to timely record or cause to be recorded a deed of reconveyance.
Neb. Rev. Stat. § 76-1015 Sale of trust property; limitation of action.
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The trustee's sale of property under a trust deed shall be made within the period prescribed in section 25-205 for the commencement of an action on the obligation secured by the trust deed unless the beneficiary elects to foreclose a trust deed in the manner provided for by law f…
Neb. Rev. Stat. § 76-1016 Trust deed; transfer of debt secured by; effect.
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The transfer of any debt secured by a trust deed shall operate as a transfer of the security therefor.
Neb. Rev. Stat. § 76-1017 Trust deed; instruments entitled to be recorded; assignment of beneficial interest.
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Any trust deed, substitution of trustee, assignment of a beneficial interest under a trust deed, notice of default, trustee's deed, reconveyance of the trust property and any instrument by which any trust deed is subordinated or waived as to priority, when acknowledged as provide…
Neb. Rev. Stat. § 76-1018 Act, how cited.
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Sections 76-1001 to 76-1018 shall be known and may be cited as Nebraska Trust Deeds Act.
Neb. Rev. Stat. § 76-102 Sections; applicability to corporations.
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The provisions of sections 76-101 to 76-123 apply to corporations unless the context indicates a more limited applicability.
Neb. Rev. Stat. § 76-103 Sections; property to which applicable.
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Any possessory or future interest, power of appointment or of revocation, which can be created in this state with regard to land, can also be created with regard to anything other than land, including choses in action.
Neb. Rev. Stat. § 76-104 Interest transferred by effective conveyance; fee simple; special words unnecessary.
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An otherwise effective conveyance of property transfers the entire interest which the conveyor has and has the power to convey, unless an intent to transfer a less interest is effectively manifested. No words of inheritance or other special words are necessary to transfer a fee s…
Neb. Rev. Stat. § 76-105 Powers of appointment, sale, and revocation; effect.
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An otherwise effective exercise of power of appointment, a power of sale or a power of revocation, whether inter vivos or by a testamentary disposition, transfers or revokes the entire interest which the holder thereof has the power to transfer or to revoke unless an intent to tr…
Neb. Rev. Stat. § 76-106 Reservation of property; effect.
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An otherwise effective reservation of property by the conveyor reserves the interest the conveyor had prior to the conveyance unless an intent to reserve a different interest is effectively manifested.
Neb. Rev. Stat. § 76-107 Future interest; conveyance authorized; exceptions; limitations.
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(1) The conveyance of an existing future interest, whether legal or equitable, is not ineffective on the sole ground that the interest so conveyed is future or contingent, except that possibilities of reverter or rights of reentry for breach of condition subsequent shall not be a…
Neb. Rev. Stat. § 76-108 Future interest; subject to claims of creditors.
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The subjection to the claims of creditors of a future interest, whether legal or equitable, is not prevented or avoided on the sole ground that such interest is future or contingent.
Neb. Rev. Stat. § 76-109 Property not in possession of conveyor; conveyance effective.
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Any act which would be effective as a conveyance inter vivos or as a mortgage or as a testamentary disposition of property when the land or thing other than land is in the possession of the conveyor, is effective as a conveyance of the conveyor's interest therein, when the land o…
Neb. Rev. Stat. § 76-110 Fee simple conditional and fee tail; abolished; effect of use.
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The creation of fees simple conditional as they existed under the law of England prior to the statute de donis is not permitted. The creation of fees tail is not permitted. The use in an otherwise effective conveyance of property, of language appropriate to create such a fee simp…
Neb. Rev. Stat. § 76-1101 Corporations; real and personal property; Secretary of State; filed with; effect.
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Any mortgage of real property or of both real property and goods, including fixtures, or a security interest in fixtures alone, made by a corporation which is a railroad, or by any corporation including public corporations engaged in the furnishing of electric or telephone servic…
Neb. Rev. Stat. § 76-1102 Corporations; personal property; Secretary of State; financing statement; filed with; effect.
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A security interest in goods alone created by a corporation which is a railroad, or by any corporation including public corporations engaged in the furnishing of electric or telephone service shall be perfected by filing a financing statement in the office of the Secretary of Sta…
Neb. Rev. Stat. § 76-1103 Secretary of State; duties; fee.
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The Secretary of State shall maintain a separate file for mortgages, security agreements and financing statements on which the debtor is a corporation which is a railroad, or by any corporation including public corporations engaged in the furnishing of electric or telephone servi…
Neb. Rev. Stat. § 76-1104 Prior mortgages of corporation; validity.
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Nothing in sections 76-1101 to 76-1104 or in the Uniform Commercial Code shall impair the validity or effectiveness against third parties of any mortgage of real property, or of both real property and goods, including fixtures alone, heretofore made by a corporation which is a ra…
Neb. Rev. Stat. § 76-111 Definite failure of issue, defined.
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Whenever property is limited upon the death of any person without heirs or heirs of the body or issue general or special, or descendants or offspring or children or any such relative described by other terms, such limitation, unless a different intent is effectively manifested, i…
Neb. Rev. Stat. § 76-112 Life interest with limitation by remainder to heirs; rule in Shelley's Case abolished.
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Whenever any person, by conveyance, takes a life interest and in the same conveyance an interest is limited by way of remainder, either immediately or mediately, to his heirs, or the heirs of his body, or his issue, or next of kin, or some of such heirs, heirs of the body, issue,…
Neb. Rev. Stat. § 76-113 Conveyance to a person and the person's children; rule in Wild's Case abolished.
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When an otherwise effective conveyance of property is made in favor of a person and his children, or in favor of a person and his issue, or by other words of similar import designating the person and the descendants of the person, whether the conveyance is immediate or postponed,…
Neb. Rev. Stat. § 76-114 Testamentary conveyance to the heirs or next of kin of the conveyor; doctrine of worthier title abolished.
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When any property is limited, mediately or immediately, in an otherwise effective testamentary conveyance, in form or in effect, to the heirs or next of kin of the conveyor, or to a person or persons who on the death of the conveyor are some or all of his heirs or next of kin, su…
Neb. Rev. Stat. § 76-115 Inter vivos conveyance to the heirs or next of kin of the conveyor; effect.
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When any property is limited, in an otherwise effective conveyance inter vivos, in form or in effect, to the heirs or next of kin of the conveyor, which conveyance creates one or more prior interests in favor of a person or persons in existence, such conveyance operates in favor …
Neb. Rev. Stat. § 76-116 Future interests; indestructibility of contingent interests.
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No future interest, whether legal or equitable, shall be destroyed by the mere termination, in any manner, of any or all preceding interests before the happening of the contingency to which the future interest is subject.
Neb. Rev. Stat. § 76-117 Cross limitations; creation by implication.
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When an otherwise effective conveyance of property is made to two or more persons as tenants in common for life or for a term of years which is terminable at their deaths, with an express remainder, whether effective or not, (a) to the survivor of such persons, or (b) upon the de…
Neb. Rev. Stat. § 76-118 Conveyances; identity of grantor and grantee; effect.
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(1) Any person or persons owning property which he, she, or they have power to convey, may effectively convey such property by a conveyance naming himself, herself, or themselves and another person or persons, as grantees, and the conveyance has the same effect as to whether it c…
Neb. Rev. Stat. § 76-119 Conveyances between husband and wife; effect.
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A married person has the power to convey effectively property directly to his or her spouse in the same manner and to the same extent as if he or she were unmarried. Property so conveyed shall be subject to the rights of the grantor as spouse of the grantee in the same manner and…
Neb. Rev. Stat. § 76-120 Waste; damages recoverable.
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When conduct claimed to constitute waste is made the basis of a claim for damages, the claimant is limited to a recovery of compensatory damages and is not entitled to multiple damages or to declare a forfeiture of the place wasted or of the interest of the defendant in the place…
Repealed. Laws 1989, LB 254, § 33.
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[Repealed or reserved.]
Repealed. Laws 1989, LB 254, § 33.
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[Repealed or reserved.]
Repealed. Laws 1989, LB 254, § 33.
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[Repealed or reserved.]
Repealed. Laws 1989, LB 254, § 33.
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[Repealed or reserved.]
Repealed. Laws 1989, LB 254, § 33.
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[Repealed or reserved.]
Repealed. Laws 1989, LB 254, § 33.
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[Repealed or reserved.]