Nebraska Statutes 76-251. Deed intended as mortgage; recording; effect
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Every deed conveying real estate, which, by any other instrument in writing, shall appear to have been intended only as a security in the nature of a mortgage, though it be an absolute conveyance in terms, shall be considered as a mortgage. The person for whose benefit such deed shall be made shall not derive any advantage from the recording thereof, unless every writing operating as a defeasance, or explaining its effect as a mortgage, or conditional deed, is also recorded therewith and at the same time.
Source
- R.S.1866, c. 43, § 29, p. 286;
- R.S.1913, § 6223;
- C.S.1922, § 5622;
- C.S.1929, § 76-228;
- R.S.1943, § 76-251.
Terms Used In Nebraska Statutes 76-251
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Person: shall include bodies politic and corporate, societies, communities, the public generally, individuals, partnerships, limited liability companies, joint-stock companies, and associations. See Nebraska Statutes 49-801