Nebraska Statutes 57-805. Forfeiture of leasehold interest; effect; failure of equitable interest to ripen into legal title; effect
If a lien provided for in sections 57-801 to 57-820 attaches to a leasehold interest, forfeiture of such leasehold interest shall not impair any lien as to material, appurtenances, and fixtures located thereon and to which such lien has attached prior to forfeiture. If a lien provided for in sections 57-801 to 57-820 attaches to an equitable interest or to a legal interest contingent upon the happening of a condition subsequent, failure of such interest to ripen into legal title or such condition subsequent to be fulfilled, shall not impair any lien as to material, appurtenances, and fixtures located thereon and to which such lien had attached prior to such failure.
Terms Used In Nebraska Statutes 57-805
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Lien: A claim against real or personal property in satisfaction of a debt.