Nebraska Statutes 76-405. Land acquired by devise or descent; sale within five years required
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Any resident alien may acquire title to lands in this state by devise or descent only, provided such alien shall be required to sell and convey said real property within five years from the date of acquiring it, and if he shall fail to dispose of it to a bona fide purchaser for value within that time, it shall revert and escheat to the State of Nebraska.
Source
- Laws 1921, c. 142, § 1, p. 608;
- C.S.1922, § 5687;
- C.S.1929, § 76-502;
- Laws 1939, c. 97, § 1, p. 417;
- C.S.Supp.,1941, § 76-502;
- R.S.1943, § 76-405.
Terms Used In Nebraska Statutes 76-405
- Acquire: when used in connection with a grant of power or property right to any person shall include the purchase, grant, gift, devise, bequest, and obtaining by eminent domain. See Nebraska Statutes 49-801
- Devise: To gift property by will.
- Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801