reglab/statecodes huggingface dataset:
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2603 - Nature of rights; subordination of interests.

76-2603.
Nature of rights; subordination of interests.
(a) Any person, including a person that owns an interest in the real property, may be a holder, except that the State of Nebraska, a municipality, or another unit of local government may not be a holder unless it is the owner of the real property. An environmental covenant may identify more than one holder. The interest of a holder is an interest in real property.
(b) A right of an agency under the Uniform Environmental Covenants Act or under an environmental covenant, other than a right as a holder, is not an interest in real property.
(c) An agency is only bound by any obligation it expressly assumes in an environmental covenant, but an agency does not assume obligations merely by signing an environmental covenant. Any other person that signs an environmental covenant is bound by the obligations the person assumes in the covenant, but signing the covenant does not change obligations, rights, or protections granted or imposed under law other than the act except as provided in the covenant.
(d) The following rules apply to interests in real property in existence at the time an environmental covenant is created or amended:
(1) A prior interest is not affected by an environmental covenant unless the person that owns the interest subordinates that interest to the covenant.
(2) The act does not require a person that owns a prior interest to subordinate that interest to an environmental covenant or to agree to be bound by the covenant.
(3) A subordination agreement may be contained in an environmental covenant covering real property or in a separate record. If the environmental covenant covers commonly owned property in a common interest community, the record may be signed by any person authorized by the governing board of the owners' association.
(4) An agreement by a person to subordinate a prior interest to an environmental covenant affects the priority of that person's interest but does not by itself impose any affirmative obligation on the person with respect to the environmental covenant.
Source
Laws 2005, LB 298, § 4.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2604 - Contents of environmental covenant.

76-2604.
Contents of environmental covenant.
(a) An environmental covenant must:
(1) State that the instrument is an environmental covenant executed pursuant to the Uniform Environmental Covenants Act;
(2) Contain a legally sufficient description of the real property subject to the covenant;
(3) Describe the activity and use limitations on the real property;
(4) Identify every holder;
(5) Be signed by the agency, every holder, and unless waived by the agency every owner of the fee simple of the real property subject to the covenant; and
(6) Identify the name and location of any administrative record for the environmental response project reflected in the environmental covenant.
(b) In addition to the information required by subsection (a) of this section, an environmental covenant may contain other information, restrictions, and requirements agreed to by the persons who signed it, including any:
(1) Requirements for notice following transfer of a specified interest in, or concerning proposed changes in use of, applications for building permits for, or proposals for any site work affecting the contamination on, the property subject to the covenant;
(2) Requirements for periodic reporting describing compliance with the covenant;
(3) Rights of access to the property granted in connection with implementation or enforcement of the covenant;
(4) A brief narrative description of the contamination and remedy, including the contaminants of concern, the pathways of exposure, limits on exposure, and the location and extent of the contamination;
(5) Limitation on amendment or termination of the covenant in addition to those contained in sections 76-2609 and 76-2610;
(6) Rights of the holder in addition to its right to enforce the covenant pursuant to section 76-2611; and
(7) Rights to enforce granted to any person.
(c) In addition to other conditions for its approval of an environmental covenant, the agency may require that those persons specified by the agency who have interests in the real property have signed the covenant.
Source
Laws 2005, LB 298, § 5.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2605 - Validity; effect on other instruments.

76-2605.
Validity; effect on other instruments.
(a) An environmental covenant that complies with the Uniform Environmental Covenants Act runs with the land.
(b) An environmental covenant that is otherwise effective is valid and enforceable even if:
(1) It is not appurtenant to an interest in real property;
(2) It can be or has been assigned to a person other than the original holder;
(3) It is not of a character that has been recognized traditionally at common law;
(4) It imposes a negative burden;
(5) It imposes an affirmative obligation on a person having an interest in the real property or on the holder;
(6) The benefit or burden does not touch or concern real property;
(7) There is no privity of estate or contract;
(8) The holder dies, ceases to exist, resigns, or is replaced; or
(9) The owner of an interest subject to the environmental covenant and the holder are the same person.
(c) An instrument that creates restrictions or obligations with respect to real property that would qualify as activity and use limitations except for the fact that the instrument was recorded before September 4, 2005, is not invalid or unenforceable because of any of the limitations on enforcement of interests described in subsection (b) of this section or because it was identified as an easement, servitude, deed restriction, or other interest. The act does not apply in any other respect to such an instrument.
(d) The act does not invalidate or render unenforceable any interest, whether designated as an environmental covenant or other interest, that is otherwise enforceable under the law of this state.
Source
Laws 2005, LB 298, § 6.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2606 - Relationship to other land-use law.

76-2606.
Relationship to other land-use law.
The Uniform Environmental Covenants Act does not authorize a use of real property that is otherwise prohibited by zoning, by law other than the act regulating use of real property, or by a recorded instrument that has priority over the environmental covenant. An environmental covenant may prohibit or restrict uses of real property which are authorized by zoning or by law other than the act.
Source
Laws 2005, LB 298, § 7.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2607 - Notice.

76-2607.
Notice.
(a) A copy of an environmental covenant shall be provided by the persons and in the manner required by the agency to:
(1) Each person that signed the covenant;
(2) Each person holding a recorded interest in the real property subject to the covenant;
(3) Each person in possession of the real property subject to the covenant;
(4) Each municipality or other unit of local government in which real property subject to the covenant is located; and
(5) Any other person the agency requires.
(b) The validity of a covenant is not affected by failure to provide a copy of the covenant as required under this section.
Source
Laws 2005, LB 298, § 8.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2608 - Recording.

76-2608.
Recording.
(a) An environmental covenant, any amendment or termination of the covenant under section 76-2609 or 76-2610, and any subordination agreement must be recorded in every county in which any portion of the real property subject to the covenant is located. For purposes of indexing, a holder shall be treated as a grantee.
(b) Except as otherwise provided in subsection (c) of section 76-2609, an environmental covenant is subject to the laws of this state governing recording and priority of interests in real property.
(c) A copy of a document recorded under subsection (a) of this section shall also be provided to the Department of Environment and Energy if the department has not signed the covenant.
(d) The department shall make available to the public a listing of all documents under subsection (a) of this section or documents under subsection (c) of this section which have been provided to the department.
Source
Laws 2005, LB 298, § 9;
Laws 2019, LB302, § 95.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2609 - Duration; amendment by court action.

76-2609.
Duration; amendment by court action.
(a) An environmental covenant is perpetual unless it is:
(1) By its terms limited to a specific duration or terminated by the occurrence of a specific event;
(2) Terminated by consent pursuant to section 76-2610;
(3) Terminated pursuant to subsection (b) of this section;
(4) Terminated by foreclosure of an interest that has priority over the environmental covenant; or
(5) Terminated or modified in an eminent domain proceeding, but only if:
(A) The agency that signed the covenant is a party to the proceeding;
(B) All persons identified in subsections (a) and (b) of section 76-2610 are given notice of the pendency of the proceeding; and
(C) The court determines, after hearing, that the termination or modification will not adversely affect human health or the environment.
(b) If the agency that signed an environmental covenant has determined that the intended benefits of the covenant can no longer be realized, a court, under the doctrine of changed circumstances, in an action in which all persons identified in subsections (a) and (b) of section 76-2610 have been given notice, may terminate the covenant or reduce its burden on the real property subject to the covenant. The agency's determination or its failure to make a determination upon request is subject to review pursuant to the Administrative Procedure Act.
(c) Except as otherwise provided in subsections (a) and (b) of this section, an environmental covenant may not be extinguished, limited, or impaired through issuance of a tax deed, foreclosure of a tax lien, or application of the doctrine of adverse possession, prescription, abandonment, waiver, lack of enforcement, or acquiescence, or a similar doctrine.
(d) An environmental covenant may not be extinguished, limited, or impaired by application of sections 57-227 to 57-239, 72-301 to 72-314, or 76-288 to 76-298.
Source
Laws 2005, LB 298, § 10.
Cross References
Administrative Procedure Act, see section 84-920.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2610 - Amendment or termination by consent.

76-2610.
Amendment or termination by consent.
(a) An environmental covenant may be amended or terminated by consent only if the amendment or termination is signed by:
(1) The agency;
(2) Unless waived by the agency, the current owner of the fee simple of the real property subject to the covenant;
(3) Each person that originally signed the covenant, unless the person waived in a signed record the right to consent or a court finds that the person no longer exists or cannot be located or identified with the exercise of reasonable diligence; and
(4) Except as otherwise provided in subdivision (d)(2) of this section, the holder.
(b) If an interest in real property is subject to an environmental covenant, the interest is not affected by an amendment of the covenant unless the current owner of the interest consents to the amendment or has waived in a signed record the right to consent to amendments.
(c) Except for an assignment undertaken pursuant to a governmental reorganization, assignment of an environmental covenant to a new holder is an amendment.
(d) Except as otherwise provided in an environmental covenant:
(1) A holder may not assign its interest without consent of the other parties;
(2) A holder may be removed and replaced by agreement of the other parties specified in subsection (a) of this section; and
(e) A court of competent jurisdiction may fill a vacancy in the position of holder.
Source
Laws 2005, LB 298, § 11.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2611 - Enforcement of environmental covenant.

76-2611.
Enforcement of environmental covenant.
(a) A civil action for injunctive or other equitable relief for violation of an environmental covenant may be maintained by:
(1) A party to the covenant;
(2) The agency;
(3) Any person to whom the covenant expressly grants power to enforce;
(4) A person whose interest in the real property or whose collateral or liability may be affected by the alleged violation of the covenant; or
(5) A municipality or other unit of local government in which the real property subject to the covenant is located.
(b) The Uniform Environmental Covenants Act does not limit the regulatory authority of the agency under law other than the Uniform Environmental Covenants Act with respect to an environmental response project.
(c) A person is not responsible for or subject to liability for environmental remediation solely because it has the right to enforce an environmental covenant.
(d) The Uniform Environmental Covenants Act does not limit the right of any person to recover damages under any other provision of law.
Source
Laws 2005, LB 298, § 12.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2612 - Uniformity of application and construction.

76-2612.
Uniformity of application and construction.
In applying and construing the Uniform Environmental Covenants Act, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.
Source
Laws 2005, LB 298, § 13.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2613 - Relation to Electronic Signatures in Global and National Commerce Act.

76-2613.
Relation to Electronic Signatures in Global and National Commerce Act.
The Uniform Environmental Covenants Act modifies, limits, or supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. 7001 et seq., but does not modify, limit, or supersede section 101 of that act, 15 U.S.C. 7001(a), or authorize electronic delivery of any of the notices described in section 103 of that act, 15 U.S.C. 7003(b).
Source
Laws 2005, LB 298, § 14.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2702 - Legislative findings and intent.

76-2702.
Legislative findings and intent.
The Legislature hereby finds, determines, and declares that home ownership and the accumulation of equity in one's home provide significant social and economic benefits to the state and its citizens. Unfortunately, too many homeowners in financial distress, especially the poor, elderly, and financially unsophisticated, are vulnerable to a variety of deceptive or unconscionable business practices designed to dispossess them or otherwise strip the equity from their homes. There is a compelling need to curtail and prevent the most deceptive and unconscionable of these business practices, provide each homeowner with information necessary to make an informed and intelligent decision regarding transactions with certain foreclosure consultants and equity purchasers, provide certain minimum requirements for contracts between such parties, including statutory rights to cancel such contracts, and ensure and foster fair dealing in the sale and purchase of homes in foreclosure. Therefor, it is the intent of the Legislature that all violations of the Nebraska Foreclosure Protection Act have a significant public impact and that the terms of the act be liberally construed to achieve these purposes.
Source
Laws 2008, LB123, § 2.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2704 - Associate, defined.

76-2704.
Associate, defined.
Associate means a partner, a subsidiary, an affiliate, an agent, or any other person working in association with a foreclosure consultant or an equity purchaser. Associate does not include a person who is excluded from the definition of an equity purchaser or a foreclosure consultant.
Source
Laws 2008, LB123, § 4.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2706 - Equity purchaser, defined.

76-2706.
Equity purchaser, defined.
Equity purchaser means a person who, in the course of the person's business, vocation, or occupation, acquires title to a residence in foreclosure. Equity purchaser does not include a person who acquires such title:
(1) For the purpose of using such property as his or her personal residence for at least one year;
(2) By a deed in lieu of foreclosure to the holder of an evidence of debt, or an associate of the holder of an evidence of debt, of a consensual lien or encumbrance of record, if such consensual lien or encumbrance is recorded in the register of deeds office of the county where the residence in foreclosure is located prior to a foreclosure sale;
(3) By a deed from any trustee, sheriff, or other person appointed by a court as a result of a foreclosure sale;
(4) At a sale of property authorized by statute;
(5) By order or judgment of any court;
(6) From the person's spouse, relative, or relative of a spouse, by the half or whole blood or by adoption, or from a guardian, conservator, or personal representative of such person; or
(7) While performing services as a part of a person's normal business activities under any law of this state or the United States that regulates banks, trust companies, savings and loan associations, credit unions, insurance companies, title insurers, insurance producers, or escrow companies authorized to conduct business in this state, an affiliate or subsidiary of such person, or an employee or agent acting on behalf of such person.
Source
Laws 2008, LB123, § 6.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2707 - Evidence of debt, defined.

76-2707.
Evidence of debt, defined.
Evidence of debt means a writing that evidences a promise to pay or a right to the payment of a monetary obligation such as a promissory note; bond; negotiable instrument; loan, credit, or similar agreement; or monetary judgment entered by a court of competent jurisdiction.
Source
Laws 2008, LB123, § 7.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2710 - Holder of evidence of debt, defined.

76-2710.
Holder of evidence of debt, defined.
Holder of evidence of debt means the person in actual possession of or otherwise entitled to enforce an evidence of debt, except that holder of evidence of debt does not include a person acting as a nominee solely for the purpose of holding the evidence of debt or deed of trust as an electronic registry without any authority to enforce the evidence of debt or deed of trust. The following persons are presumed to be the holder of evidence of debt:
(1) The person who is the obligee of and who is in possession of an original evidence of debt;
(2) The person in possession of an original evidence of debt together with the proper endorsement or assignment thereof to such person;
(3) The person in possession of a negotiable instrument evidencing a debt which has been duly negotiated to such person or to bearer or indorsed in blank; or
(4) The person in possession of an evidence of debt with authority, which may be granted by the original evidence of debt or deed of trust, to enforce the evidence of debt as an agent, a nominee, or a trustee or in a similar capacity for the obligee of the evidence of debt.
Source
Laws 2008, LB123, § 10.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2711 - Homeowner, defined.

76-2711.
Homeowner, defined.
Homeowner means the owner of a residence in foreclosure, including a vendee under a contract for deed to real property as defined in section 45-1002.
Source
Laws 2008, LB123, § 11;
Laws 2009, LB328, § 52.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2712 - Residence in foreclosure, defined.

76-2712.
Residence in foreclosure, defined.
Residence in foreclosure means a residence or dwelling that is occupied as the homeowner's principal place of residence and against which any type of foreclosure action, including, but not limited to, the filing of a notice of default of a deed of trust or the filing of a lawsuit to foreclose a mortgage or other lien, has been commenced.
Source
Laws 2008, LB123, § 12.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2714 - Homeowner; right to cancel foreclosure consulting contract; notice; when effective; repayment of funds.

76-2714.
Homeowner; right to cancel foreclosure consulting contract; notice; when effective; repayment of funds.
(1) In addition to any right of rescission available under state or federal law, a homeowner has the right to cancel a foreclosure consulting contract at any time.
(2) Cancellation occurs when a homeowner gives written notice of cancellation of the foreclosure consulting contract to the foreclosure consultant at the address specified in the contract or through any facsimile number or email address identified in the contract or other materials provided to the homeowner by the foreclosure consultant.
(3) Notice of cancellation, if given by mail, is effective when deposited in the United States mail, properly addressed, with postage prepaid.
(4) Notice of cancellation need not be in the form provided with the contract and is effective, however expressed, if it indicates the intention of the homeowner to cancel the foreclosure consulting contract.
(5) As part of the cancellation of a foreclosure consulting contract, the homeowner shall repay, within sixty days after the date of cancellation, all funds paid or advanced in good faith prior to the receipt of notice of cancellation by the foreclosure consultant or his or her associate under the terms of the foreclosure consulting contract, together with interest at the prime rate published by the Federal Reserve Board plus two percentage points, with the total interest rate not to exceed eight percent per year, from the date of expenditure until repaid by the homeowner.
(6) Except as provided in subsection (5) of this section, the right to cancel shall not be conditioned on the repayment of any funds.
Source
Laws 2008, LB123, § 14.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2715 - Foreclosure consulting contract; provisions prohibited.

76-2715.
Foreclosure consulting contract; provisions prohibited.
A provision in a foreclosure consulting contract is void as against public policy if the provision attempts or purports to:
(1) Waive any of the rights specified in sections 76-2713 to 76-2718 or the right to a jury trial;
(2) Consent to jurisdiction for litigation or choice of law in a state other than Nebraska;
(3) Consent to venue in a county other than the county in which the residence in foreclosure is located; or
(4) Impose any costs or fees greater than the actual costs and fees.
Source
Laws 2008, LB123, § 15.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2716 - Foreclosure consultant; prohibited acts.

76-2716.
Foreclosure consultant; prohibited acts.
A foreclosure consultant shall not:
(1) Claim, demand, charge, collect, or receive any compensation until after the foreclosure consultant has fully performed each and every service the foreclosure consultant contracted to perform or represented that the foreclosure consultant would perform;
(2) Claim, demand, charge, collect, or receive any interest or any other compensation for a loan that the foreclosure consultant makes to the homeowner that exceeds the prime rate published by the Federal Reserve Board at the time of any loan plus two percentage points, with the total interest rate not to exceed eight percent per year;
(3) Take a wage assignment, a lien of any type on real or personal property, or any other security to secure the payment of compensation;
(4) Receive any consideration from a third party in connection with foreclosure consulting services provided to a homeowner unless the consideration is first fully disclosed in writing to the homeowner;
(5) Acquire an interest, directly, indirectly, or through an associate, in the real or personal property of a homeowner with whom the foreclosure consultant has contracted;
(6) Obtain a power of attorney from a homeowner for any purpose other than to inspect documents as provided by law; or
(7) Induce or attempt to induce a homeowner to enter into a foreclosure consulting contract that does not comply in all respects with sections 76-2713 to 76-2718.
Source
Laws 2008, LB123, § 16.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2717 - Foreclosure consultant or associate; unconscionable transaction or contract; review by court.

76-2717.
Foreclosure consultant or associate; unconscionable transaction or contract; review by court.
(1) A foreclosure consultant or associate may not facilitate or engage in any transaction that is unconscionable given the terms and circumstances of the transaction.
(2)(a) If a court, as a matter of law, finds a foreclosure consulting contract or any clause of such contract to have been unconscionable at the time it was made, the court may refuse to enforce the contract, enforce the remainder of the contract without the unconscionable clause, or so limit the application of any unconscionable clause as to avoid an unconscionable result.
(b) When it is claimed or appears to the court that a foreclosure consulting contract or any clause of such contract may be unconscionable, the parties shall be afforded a reasonable opportunity to present evidence as to its commercial setting, purpose, and effect to aid the court in making the determination.
(c) In order to support a finding of unconscionability, there must be evidence of an unreasonable inequality of bargaining power or other circumstances in which there is an absence of meaningful choice for one of the parties, together with contract terms that are, under standard industry practices, unreasonably favorable to the foreclosure consultant or associate.
Source
Laws 2008, LB123, § 17.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2718 - Foreclosure consulting contract and notices; English required; translation into other language.

76-2718.
Foreclosure consulting contract and notices; English required; translation into other language.
A foreclosure consulting contract, and all notices of cancellation provided for therein, shall be written in English and shall be accompanied by a written translation from English into any other language principally spoken by the homeowner, certified by the person making the translation as a true and correct translation of the English version. The translated version shall be presumed to have equal status and credibility as the English version.
Source
Laws 2008, LB123, § 18.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2719 - Equity purchase contract; form.

76-2719.
Equity purchase contract; form.
Every equity purchase contract shall be written in at least twelve-point, boldface type and fully completed, signed, and dated by the homeowner and equity purchaser prior to the execution of any instrument quitclaiming, assigning, transferring, conveying, or encumbering an interest in the residence in foreclosure.
Source
Laws 2008, LB123, § 19.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2720 - Equity purchase contract; contents; notice.

76-2720.
Equity purchase contract; contents; notice.
(1) Every equity purchase contract shall contain the entire agreement of the parties and shall include the following:
(a) The name, business address, telephone number, facsimile number, and email address of the equity purchaser;
(b) The street address and full legal description of the residence in foreclosure;
(c) Clear and conspicuous disclosure of any financial or legal obligations of the homeowner that will be assumed by the equity purchaser. If the equity purchaser will not be assuming any financial or legal obligations of the homeowner, the equity purchase contract shall so state;
(d) The total consideration to be paid by the equity purchaser in connection with or incident to the acquisition by the equity purchaser of the residence in foreclosure;
(e) The terms of payment or other consideration, including, but not limited to, any services of any nature that the equity purchaser represents will be performed for the homeowner before or after the sale;
(f) The date and time when possession of the residence in foreclosure is to be transferred to the equity purchaser;
(g) The terms of any rental agreement or lease;
(h) The specifications of any option or right to repurchase the residence in foreclosure, including the specific amounts of any escrow deposit, downpayment, purchase price, closing costs, commissions, or other fees or costs;
(i) A notice of cancellation as provided in section 76-2722; and
(j) The following notice, in at least fourteen-point, boldface type, completed with the name of the equity purchaser, immediately above the statement required by section 76-2722:
NOTICE REQUIRED BY NEBRASKA LAW
UNTIL YOUR RIGHT TO CANCEL THIS CONTRACT HAS ENDED, .................... (NAME) OR ANYONE WORKING FOR .................... (NAME) CANNOT ASK YOU TO SIGN OR HAVE YOU SIGN ANY DEED OR ANY OTHER DOCUMENT.
(2) The equity purchase contract required by this section survives delivery of any instrument of conveyance of the residence in foreclosure, but does not have any effect on persons other than the parties to the contract or affect title to the residence in foreclosure.
Source
Laws 2008, LB123, § 20.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2721 - Homeowner; right to cancel equity purchase contract; limitation; when effective.

76-2721.
Homeowner; right to cancel equity purchase contract; limitation; when effective.
(1)(a) In addition to any right of rescission available under state or federal law, a homeowner has the right to cancel an equity purchase contract until midnight of the third business day following the day on which the homeowner signs a contract that complies with the Nebraska Foreclosure Protection Act or until noon on the last business day before the foreclosure sale of the residence in foreclosure, whichever occurs first.
(b) There shall be no right to cancel under the act with regard to any equity purchase contract executed on or after noon of the last business day before the foreclosure sale of the residence in foreclosure, if the homeowner first agrees to enter into an equity purchase contract with the equity purchaser on or after noon of the last business day before the foreclosure sale.
(2) Cancellation occurs when a homeowner personally delivers written notice of cancellation to the address specified in the equity purchase contract or upon deposit of such notice in the United States mail, properly addressed, with postage prepaid.
(3) A notice of cancellation given by a homeowner need not take the particular form as provided with the equity purchase contract and, however expressed, is effective if it indicates the intention of the homeowner not to be bound by the equity purchase contract.
(4) In the absence of any written notice of cancellation from a homeowner, the execution by the homeowner of a deed or other instrument of conveyance of an interest in the residence in foreclosure to the equity purchaser after the expiration of the rescission period creates a rebuttable presumption that the homeowner did not cancel the equity purchase contract.
Source
Laws 2008, LB123, § 21.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2722 - Equity purchase contract; Notice of Cancellation; form; copy provided to homeowner.

76-2722.
Equity purchase contract; Notice of Cancellation; form; copy provided to homeowner.
(1)(a) The equity purchase contract shall contain, as the last provision before the space reserved for the homeowner's signature, a conspicuous statement in at least twelve-point, boldface type, as follows:
YOU MAY CANCEL THIS CONTRACT FOR THE SALE OF YOUR HOUSE WITHOUT ANY PENALTY OR OBLIGATION AT ANY TIME BEFORE ............... (DATE AND TIME OF DAY). SEE THE ATTACHED NOTICE OF CANCELLATION FORM FOR AN EXPLANATION OF THIS RIGHT.
(b) The equity purchaser shall accurately specify, within the equity purchase contract, the date and time of day on which the cancellation right ends.
(c) If no right to cancel the equity purchase contract exists under the Nebraska Foreclosure Protection Act as set forth in subdivision (1)(b) of section 76-2721, the equity purchase contract shall conspicuously state that no such cancellation right exists.
(2) The equity purchase contract shall be accompanied by duplicate completed forms, captioned Notice of Cancellation in at least twelve-point, boldface type if the equity purchase contract is printed or in capital letters if the equity purchase contract is typed, followed by a space in which the equity purchaser shall enter the date on which the homeowner executed the equity purchase contract. Such form shall:
(a) Be attached to the equity purchase contract;
(b) Be easily detachable; and
(c) Contain the following statement, in at least ten-point type if the equity purchase contract is printed or in capital letters if the contract is typed:
NOTICE OF CANCELLATION
............... (ENTER DATE EQUITY PURCHASE CONTRACT WAS SIGNED). YOU MAY CANCEL THIS CONTRACT FOR THE SALE OF YOUR HOUSE, WITHOUT ANY PENALTY OR OBLIGATION, AT ANY TIME BEFORE ............... (ENTER DATE AND TIME OF DAY). TO CANCEL THIS TRANSACTION, PERSONALLY DELIVER A SIGNED AND DATED COPY OF THIS NOTICE OF CANCELLATION IN THE UNITED STATES MAIL, POSTAGE PREPAID, TO ..............., (NAME OF PURCHASER) AT ............... (STREET ADDRESS OF PURCHASER'S PLACE OF BUSINESS) NOT LATER THAN ............... (ENTER DATE AND TIME OF DAY). I HEREBY CANCEL THIS TRANSACTION
............... (DATE)
............... (SELLER'S SIGNATURE).
(3) The equity purchaser shall provide the homeowner with a copy of the equity purchase contract and the attached notice of cancellation.
(4) The time during which the homeowner may cancel the equity purchase contract does not begin to run until the equity purchaser has complied with this section.
Source
Laws 2008, LB123, § 22.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2723 - Option to repurchase; conditions.

76-2723.
Option to repurchase; conditions.
A transaction in which a homeowner purports to grant a residence in foreclosure to an equity purchaser by an instrument that appears to be an absolute conveyance and in which an option to repurchase is reserved to the homeowner or is given by the equity purchaser to the homeowner shall be permitted only where all of the following conditions have been met:
(1) The reconveyance contract complies in all respects with section 76-2720;
(2) The reconveyance contract provides the homeowner with a nonwaivable, thirty-day right to cure any default of the reconveyance contract and specifies that the homeowner may exercise this right to cure on at least three separate occasions during the term of such reconveyance contract;
(3) The equity purchaser fully assumes or discharges the lien in foreclosure as well as any prior liens that will not be extinguished by the foreclosure, which assumption or discharge shall be accomplished without a violation of the terms and conditions of the liens being assumed or discharged;
(4) The equity purchaser verifies and can demonstrate that the homeowner has or will have a reasonable ability to make the lease payments and to repurchase the residence in foreclosure within the term of the option to repurchase under the reconveyance contract. For purposes of this section, there is a rebuttable presumption that the homeowner has a reasonable ability to make lease payments and to repurchase the residence in foreclosure if the homeowner's payments for primary housing expenses and regular principal and interest payments on other personal debt do not exceed sixty percent of the homeowner's monthly gross income; and
(5) The price the homeowner must pay to exercise the option to repurchase the residence in foreclosure is not unconscionable. Without limitation on available claims under section 76-2726, a repurchase price exceeding twenty-five percent of the price at which the equity purchaser acquired the residence in foreclosure creates a rebuttable presumption that the reconveyance contract is unconscionable. The acquisition price paid by the equity purchaser may include any actual costs incurred by the equity purchaser in acquiring the residence in foreclosure, including repairs and capital improvements, and may include below market rent discounts. The equity purchaser shall provide the homeowner with documentation proving such costs and below market rent discounts prior to the homeowner's exercise of the option to purchase.
Source
Laws 2008, LB123, § 23.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2724 - Equity purchase contract; provisions prohibited.

76-2724.
Equity purchase contract; provisions prohibited.
A provision in an equity purchase contract between an equity purchaser and a homeowner is void as against public policy if it attempts or purports to:
(1) Waive any of the rights specified in sections 76-2719 to 76-2727 or the right to a jury trial;
(2) Consent to jurisdiction for litigation or choice of law in a state other than Nebraska;
(3) Consent to venue in a county other than the county in which the residence in foreclosure is located; or
(4) Impose any costs or fees greater than the actual costs and fees.
Source
Laws 2008, LB123, § 24.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2725 - Equity purchaser; duties; prohibited acts.

76-2725.
Equity purchaser; duties; prohibited acts.
(1) The equity purchase contract provisions required by sections 76-2719 to 76-2724 shall be provided and completed in conformity with such sections by the equity purchaser.
(2) Until the time within which the homeowner may cancel the transaction has fully elapsed, the equity purchaser shall not do any of the following:
(a) Accept from a homeowner an execution of, or induce a homeowner to execute, an instrument of conveyance of any interest in the residence in foreclosure;
(b) Record with the register of deeds any document, including, but not limited to, the equity purchase contract, or any lease, lien, or instrument of conveyance that has been signed by the homeowner;
(c) Transfer or encumber or purport to transfer or encumber an interest in the residence in foreclosure to a third party; or
(d) Pay the homeowner any consideration.
(3) Within ten days following receipt of a notice of cancellation given in accordance with sections 76-2721 and 76-2722, the equity purchaser shall return without condition the original equity purchase contract and any other documents signed by the homeowner.
(4) An equity purchaser shall not make any untrue or misleading statements of material fact regarding the value of the residence in foreclosure, the amount of proceeds the homeowner will receive after a foreclosure sale, any equity purchase contract term, the homeowner's rights or obligations incident to or arising out of the sale transaction, or the nature of any document that the equity purchaser induces the homeowner to sign or any other untrue or misleading statement concerning the sale of the residence in foreclosure to the equity purchaser.
Source
Laws 2008, LB123, § 25.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2726 - Equity purchaser or associate; unconscionable transaction or contract; review by court.

76-2726.
Equity purchaser or associate; unconscionable transaction or contract; review by court.
(1) An equity purchaser or associate may not facilitate or engage in any transaction that is unconscionable given the terms and circumstances of the transaction.
(2)(a) If a court, as a matter of law, finds an equity purchase contract or any clause of such contract to have been unconscionable at the time it was made, the court may refuse to enforce the equity purchase contract, enforce the remainder of the equity purchase contract without the unconscionable clause, or so limit the application of any unconscionable clause as to avoid an unconscionable result.
(b) When it is claimed or appears to the court that the contract or any clause thereof may be unconscionable, the parties shall be afforded a reasonable opportunity to present evidence as to its commercial setting, purpose, and effect to aid the court in making the determination.
(c) In order to support a finding of unconscionability, there must be evidence of some bad faith overreaching on the part of the equity purchaser or associate such as that which results from an unreasonable inequality of bargaining power or under other circumstances in which there is an absence of meaningful choice for one of the parties, together with contract terms that are, under standard industry practices, unreasonably favorable to the equity purchaser or associate.
Source
Laws 2008, LB123, § 26.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2727 - Equity purchase contract and related documents and instruments; English required; translation into other language.

76-2727.
Equity purchase contract and related documents and instruments; English required; translation into other language.
Any equity purchase contract, rental agreement, lease, or option or right to repurchase and any notice, conveyance, lien, encumbrance, consent, or other document or instrument signed by a homeowner shall be written in English and shall be accompanied by a written translation from English into any other language principally spoken by the homeowner, certified by the person making the translation as a true and correct translation of the English version. The translated version shall be presumed to have equal status and credibility as the English version.
Source
Laws 2008, LB123, § 27.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2804 - Closing agent; certificate of satisfaction; execution and recordation authorized.

76-2804.
Closing agent; certificate of satisfaction; execution and recordation authorized.
A closing agent may, on behalf of a landowner or purchaser, execute a certificate of satisfaction that complies with the requirements of the Nebraska Security Instrument Satisfaction Act and record the certificate of satisfaction in the real property records of each county in which the security instrument is recorded, if a deed of reconveyance or release or satisfaction of the security interest has not been executed and recorded within sixty days after the date (1) the secured creditor has received full payment or performance of the secured obligation in accordance with a payoff statement furnished by the secured creditor and, if applicable, notification pursuant to subsection (1) of section 76-2803 has been performed and (2) the closing agent has notified the secured creditor in accordance with section 76-2806.
Source
Laws 2008, LB386, § 4.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2807 - Certificate of satisfaction; recording; effect; wrongful recording; remedy; liability; designation of authority; recording.

76-2807.
Certificate of satisfaction; recording; effect; wrongful recording; remedy; liability; designation of authority; recording.
(1) A certificate of satisfaction complying with the Nebraska Security Instrument Satisfaction Act is evidence of the facts contained in it, shall be accepted for recording in the county in which the security instrument is recorded, and, upon recording, operates as a satisfaction of the security interest described in the certificate of satisfaction. If a security instrument is recorded in more than one county and a certificate of satisfaction is recorded in one of them, a certified copy of the certificate of satisfaction may be recorded in another county with the same effect as the original.
(2)(a) Except as otherwise provided in subdivision (b) of this subsection, in addition to any other remedy provided by law, a closing agent wrongfully or erroneously recording a certificate of satisfaction under this section shall be liable to the secured creditor for actual damages caused by the recording of the certificate of satisfaction and reasonable attorney's fees and costs.
(b) A closing agent that records a certificate of satisfaction of a security instrument wrongfully or erroneously is not liable if the closing agent complied in good faith with the act.
(c) If a certificate of satisfaction is executed and recorded by a title insurance agent pursuant to a designation of authority, the title insurer making such designation shall be liable to a secured creditor for the wrongful or erroneous recording of the certificate of satisfaction by such designee, to the same extent as provided under subdivisions (a) and (b) of this subsection.
(d) A single designation of authority may be recorded in the office of the register of deeds in any county in which a certificate of satisfaction may be recorded. The register of deeds shall record such designation of authority upon payment of the required fees. When the designation of authority is recorded, the register of deeds shall index such instrument under the name of the title insurance agent designated in the instrument in the manner provided for miscellaneous instruments relating to real estate. A separate designation of authority shall not be necessary for each certificate of satisfaction. Such authority shall continue until a revocation of the designation of authority is recorded in the county where the designation of authority was recorded.
(3) The recording of a certificate of satisfaction does not itself extinguish the liability of any person liable for payment of the underlying obligation.
Source
Laws 2008, LB386, § 7.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-2901 - Manufactured home or mobile home; deemed real property.

76-2901.
Manufactured home or mobile home; deemed real property.
For purposes of a bankruptcy plan under 11 U.S.C. chapter 13, a manufactured home or a mobile home shall be deemed real property under subdivision (b)(2) of 11 U.S.C. 1322, as such section existed on July 18, 2008.
Source
Laws 2008, LB953, § 1.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-3001 - Terms, defined.

76-3001.
Terms, defined.
For purposes of sections 76-3001 to 76-3004:
(1) Decommissioning security means a security instrument that is posted or given by a wind developer to a municipality or other governmental entity to ensure sufficient funding is available for removal of a wind energy conversion system and reclamation at the end of the useful life of such a system; and
(2) Wind agreement means a right, whether or not stated in the form of a restriction, easement, covenant, or condition, in any deed, wind easement, wind option, or lease or lease option securing land for the study or production of wind-generated energy or any other instrument executed by or on behalf of any owner of land or air space for the purpose of allowing another party to study the potential for, or to develop, a wind energy conversion system as defined in section 66-909.02 on the land or in the air space.
Source
Laws 2009, LB568, § 1;
Laws 2011, LB208, § 5;
Laws 2012, LB828, § 16.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-3002 - Wind agreement; limit on term; termination, when.

76-3002.
Wind agreement; limit on term; termination, when.
A wind agreement shall run with the land benefited and burdened and shall terminate upon the conditions stated in the wind agreement, except that the initial term of a wind agreement shall not exceed forty years. A wind agreement shall terminate if development of a wind energy conversion system as defined in section 66-909.02 has not commenced within ten years after the effective date of the wind agreement, except that this period may be extended by mutual agreement of the parties to the wind agreement.
Source
Laws 2009, LB568, § 2.
2023 Nebraska Revised Statutes › Chapter 76 - Real Property › 76-3004 - Interest in wind or solar resource; restriction on severance from surface estate.

76-3004.
Interest in wind or solar resource; restriction on severance from surface estate.
No interest in any wind or solar resource located on a tract of land and associated with the production or potential production of wind or solar energy on the tract of land may be severed from the surface estate.
Source
Laws 2009, LB568, § 4;
Laws 2012, LB828, § 17.