Nebraska Statutes 76-1916. Sale or conveyance; exempt from subdivision requirements
(1) A sale or conveyance of agricultural land in parcels pursuant to any action on a petition filed pursuant to section 76-1906, (2) a foreclosure sale of mortgaged premises in parcels pursuant to section 76-1912 or 76-1913 or a decree entered under section 25-2138, or (3) a conveyance by deed executed by the owner to a mortgagee or trustee in lieu of foreclosure or exercise of the trustee’s power of sale shall be exempt from the requirements of subdivision approval contained in sections 14-116, 15-901, 16-902, 17-1002, 23-174.03, and 23-373 and shall not constitute a subdivision as defined in sections 14-116, 15-901, 19-921, 23-174.03, and 23-372.
Terms Used In Nebraska Statutes 76-1916
- Action: shall include any proceeding in any court of this state. See Nebraska Statutes 49-801
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Trustee: A person or institution holding and administering property in trust.