Nebraska Statutes 76-2,104. Reverter or rights of entry; other rights; sections; applicability
Subsections (2) and (3) of section 76-107 and sections 76-299 to 76-2,105 shall not invalidate or affect:
Terms Used In Nebraska Statutes 76-2,104
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- 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
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
- Trustee: A person or institution holding and administering property in trust.
(1) A conveyance made for the purpose of releasing or extinguishing a possibility of reverter or right of entry or reentry;
(2) A right of entry or the transfer of a right of entry for default in payment of rent reserved in a lease or for breach of covenant contained in a lease, when such transfer is in connection with a transfer of a reversion and the rent reserved in the lease;
(3) A right of reentry or the transfer of a right of entry for default in payment of a rent granted or reserved in any deed or grant or for breach of any covenant in any deed or grant when a rent is granted or reserved, if such transfer is in connection with a transfer of a rent so granted or the transfer of a rent so reserved;
(4) Any rights of a mortgagor based upon the terms of the mortgage, any rights of a trustee or a beneficiary under a trust deed in the nature of a mortgage based upon the terms of the trust deed, or any rights of grantor under a vendor’s lien reserved in a deed; or
(5) Any condition, restrictive covenant, limitation, or possibility of reverter or right of entry or reentry for breach of condition subsequent contained in any grant or easement to any railroad or other public utility for the establishment and operation of a transportation system, communication or transmission lines, or public highways.