Nebraska Statutes 52-2107. Priority of liens
(1) Recorded liens, mortgages, trust deeds, and other encumbrances on commercial real estate, including a recorded lien securing revolving credit and future advances for a loan, recorded before the date the commercial real estate broker’s lien is recorded, shall have priority over the commercial real estate broker’s lien.
Terms Used In Nebraska Statutes 52-2107
- Lien: A claim against real or personal property in satisfaction of a debt.
- Revolving credit: A credit agreement (typically a credit card) that allows a customer to borrow against a preapproved credit line when purchasing goods and services. The borrower is only billed for the amount that is actually borrowed plus any interest due. (Also called a charge account or open-end credit.) Source: OCC
(2) A construction lien claim that is recorded after the commercial real estate broker’s notice of lien but that relates back to a date prior to the recording date of the commercial real estate broker’s notice of lien has priority over the commercial real estate broker’s lien.
(3) A purchase-money lien executed by the buyer of commercial real estate in connection with a loan for which any part of the proceeds are used to pay the purchase price of the commercial real estate has priority over a commercial real estate broker’s lien claimed for the commission owed by the buyer against the commercial real estate purchased by the buyer.