Nebraska Statutes 52-303. Foreclosure; limitation; joinder of claims
If within thirty days after the filing of such lien with the county clerk as required by section 52-302, the owner fails to pay such charges, the lien shall be treated in all respects as a secured transaction as provided in article 9, Uniform Commercial Code, and may be foreclosed in the manner and form provided for the foreclosure of secured transactions as provided in article 9, Uniform Commercial Code, except that more than one article and charge may be filed in the same lien and foreclosed in the same proceeding, and a publication of a list of several articles and charges published together shall be deemed sufficient notice. Such foreclosure shall be instituted within one year after the filing of the lien.
Source
- Laws 1921, c. 175, § 3, p. 673;
- C.S.1922, § 3232;
- C.S.1929, § 52-303;
- R.S.1943, § 52-303;
- Laws 1969, c. 436, § 2, p. 1463;
- Laws 1999, LB 550, § 13.
Terms Used In Nebraska Statutes 52-303
- 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
- Lien: A claim against real or personal property in satisfaction of a debt.
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
- Year: shall mean calendar year. See Nebraska Statutes 49-801