The statutes of Nebraska shall not prevent the holders, whether aliens or corporations not organized under the laws of the State of Nebraska, of liens upon real estate or any interest therein, from holding or taking valid title to the real estate subject to such liens, nor shall it prevent any such alien or corporation from enforcing any lien or judgment for any debt or liability, nor from becoming a purchaser at any sale made for the purpose of collecting or enforcing the collection of such debt or judgment; Provided, however, all lands so acquired shall be sold within ten years after the title thereto shall be perfected in such alien or foreign corporation, and in default of such sale within such time, such real estate shall revert and escheat to the State of Nebraska.

Source

  • Laws 1889, c. 58, § 4, p. 485;
  • R.S.1913, § 6276;
  • Laws 1919, c. 136, § 1, p. 313;
  • Laws 1921, c. 142, § 3, p. 609;
  • C.S.1922, § 5690;
  • C.S.1929, § 76-505;
  • Laws 1931, c. 128, § 1, p. 361;
  • C.S.Supp.,1941, § 76-505;
  • R.S.1943, § 76-411.
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Terms Used In Nebraska Statutes 76-411

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • 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
  • Foreign: when applied to corporations shall include all those created by authority other than that of this state. See Nebraska Statutes 49-801
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • 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