Nebraska Statutes 76-2705. Equity purchase contract, defined
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Equity purchase contract means an agreement between an equity purchaser and a homeowner pertaining to the acquisition of title to the homeowner’s personal residence.
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Terms Used In Nebraska Statutes 76-2705
- Contract: A legal written agreement that becomes binding when signed.
- Equity purchaser: means a person who, in the course of the person's business, vocation, or occupation, acquires title to a residence in foreclosure. See Nebraska Statutes 76-2706
- Homeowner: means the owner of a residence in foreclosure, including a vendee under a contract for deed to real property as defined in section 45-1002. See Nebraska Statutes 76-2711