Nebraska Statutes 52-1701. Terms, defined
For purposes of sections 52-1701 to 52-1708 :
Terms Used In Nebraska Statutes 52-1701
- Contract: A legal written agreement that becomes binding when signed.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: shall include bodies politic and corporate, societies, communities, the public generally, individuals, partnerships, limited liability companies, joint-stock companies, and associations. See Nebraska Statutes 49-801
(1) Assignee shall mean the holder, and his or her successors and assigns, of a security interest in rents which has been created, provided, assigned, or granted by an assignor;
(2) Assignment instrument shall mean any mortgage, trust deed, assignment of leases, assignment of rents, or other instrument or agreement which creates, provides, assigns, or grants a security interest in rents;
(3) Assignor shall mean a person, and his or her successors and assigns, who has created, provided, assigned, or granted a security interest in rents to an assignee;
(4) Lease shall mean any license, lease, contract, or other agreement for the use or possession of real estate;
(5) Rent party shall mean the party that is obligated under a lease to pay rents;
(6) Rents shall mean any right to income, rents, proceeds, issues, profits, royalties, or any other payment or benefit derived under a present or future lease; and
(7) Security interest in rents shall mean any interest in rents or leases which secures payment or performance of an obligation.