Nebraska Statutes 25-202. Actions for the recovery of title or possession of real estate or foreclosure of mortgages or deeds of trust as mortgages
(1) An action for the recovery of the title or possession of lands, tenements, or hereditaments, or for the foreclosure of mortgages or the foreclosure of deeds of trust as mortgages thereon, can only be brought within ten years after the cause of action accrues. No limitation shall apply to the time within which any county, city, town, village, other municipal corporation, public power and irrigation district, public power district, public irrigation district organized under Chapter 70, article 6, irrigation district organized under Chapter 46, article 1, or natural resources district may begin an action for the recovery of the title or possession of any public road, street, or alley, other public or political subdivision grounds or lands, or city or town lots.
Terms Used In Nebraska Statutes 25-202
- Action: shall include any proceeding in any court of this state. See Nebraska Statutes 49-801
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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
- 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.
- 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.
(2) For the purposes of this section as relates only to the rights and interests of subsequent purchasers and encumbrancers for value:
(a) The cause of action for foreclosure of the mortgage or foreclosure of the deed of trust as a mortgage accrues on the last date of maturity of the debt or other obligation secured by the mortgage or deed of trust as the date is stated in or is ascertainable from the filed record of the mortgage or deed of trust or the filed record of an extension of the mortgage or deed of trust;
(b) If no date of maturity is stated or is ascertainable from the filed mortgage or deed of trust or the filed extension, the cause of action for foreclosure of the mortgage or foreclosure of the deed of trust as a mortgage accrues no later than thirty years after the date of the mortgage or deed of trust; or
(c) If the mortgage creditor files an affidavit to the effect that the mortgage or deed of trust is unpaid and is still a valid lien, the affidavit is filed before the cause of action is barred under this section, and the affidavit is filed for record in the office of the register of deeds, the cause of action is not barred until ten years after the date the affidavit is filed. The period of ten years shall not be extended by nonresidence, legal disability, partial payment, acknowledgment of debt, or promise to pay.
Source
- R.S.1867, Code § 6, p. 395;
- Laws 1869, § 1, p. 67;
- Laws 1899, c. 79, § 6, p. 335;
- R.S.1913, § 7564;
- C.S.1922, § 8507;
- Laws 1925, c. 64, § 1, p. 220;
- C.S.1929, § 20-202;
- Laws 1941, c. 35, § 1, p. 145;
- C.S.Supp.,1941, § 20-202;
- R.S.1943, § 25-202;
- Laws 1977, LB 208, § 1;
- Laws 1995, LB 297, § 1;
- Laws 2008, LB851, § 18.