Nebraska Statutes 52-138. Priority among lien claimants
(1) All liens attaching at the same time have equal priority and share the amount received upon foreclosure of the liens and available for distribution to construction lien claimants in the same ratio as the ratio of the particular lien bears to the total of all liens attaching at the same time.
Terms Used In Nebraska Statutes 52-138
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- 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.
(2) Except as provided by subsection (3) of this section, liens attaching at different times have priority in the order of attachment.
(3) A claimant who records a notice of commencement after he or she has recorded a lien has only equal priority with claimants who record a lien while the notice of commencement is effective. Any priority which the claimant gained over third parties by recording his or her notice of lien is preserved for the benefit of all claimants having equal priority under this subsection.
Source
- Laws 1981, LB 512, § 14.