Owner shall mean a person, other than a lienholder, having the property in or title to a motorboat. The term shall include a person entitled to the use or possession of a motorboat subject to an interest in another person, reserved or created by agreement and securing payment or performance of an obligation, but the term shall exclude a lessee under a lease not intended as security.

Terms Used In Nebraska Statutes 37-1205

  • 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
  • Motorboat: shall mean any watercraft propelled in any respect by machinery, including watercraft temporarily equipped with detachable motors, but shall not include a vessel which has a valid marine document issued by the Bureau of Customs of the United States Government or any federal agency successor thereto. See Nebraska Statutes 37-1204
  • 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.
  • Owner: shall mean a person, other than a lienholder, having the property in or title to a motorboat. See Nebraska Statutes 37-1205
  • Person: shall mean an individual, partnership, limited liability company, firm, corporation, association, or other entity. See Nebraska Statutes 37-1207
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