Nebraska Statutes 76-1906. Redemption of redemptive homestead; when allowed
(1) In an action against protected real estate for the foreclosure of any mortgage or trust deed described in section 76-1904 with respect to which no waiver or disclaimer of the right to make a designation of homestead has been made or is otherwise binding in accordance with section 76-1905, if any part of the homestead of the mortgagor or trustor is included in a decree directing a sale of the mortgaged premises or trust property, the mortgagor or trustor may request redemption of his or her redemptive homestead. Such request shall be made in a petition signed and sworn to by the mortgagor or trustor and filed in the foreclosure action not later than twenty days after entry of the decree of foreclosure.
Terms Used In Nebraska Statutes 76-1906
- Action: shall include any proceeding in any court of this state. See Nebraska Statutes 49-801
- 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.
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
- Sworn: shall include affirmed in all cases in which an affirmation may be substituted for an oath. See Nebraska Statutes 49-801
- Trustee: A person or institution holding and administering property in trust.
- Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.
(2) In any proceeding against protected real estate involving the exercise of a power of sale by a trustee under a trust deed described in section 76-1904 with respect to which no waiver or disclaimer of the right to make a designation of homestead has been made or is otherwise binding in accordance with section 76-1905, if any part of the homestead of the trustor is included in the notice of default filed in accordance with section 76-1006, the trustor may request redemption of his or her redemptive homestead. Such request shall be made in a petition signed and sworn to by the trustor and filed in the district court of the county where the trust property is located not later than two months following recordation of the notice of default.
(3) If protected real estate of a judgment debtor is subject to the lien of a judgment entered on or after November 21, 1986, and if no waiver or disclaimer of the right to make a designation of homestead is binding in accordance with section 76-1905, the judgment debtor may request redemption of his or her redemptive homestead. Such request shall be made in a petition signed and sworn to by the judgment debtor and filed in the district court of the county where the redemptive homestead is located not later than the date of the last publication of the notice required by section 25-1529.