Nebraska Statutes 77-2807. Property; unpaid taxes; sale; proceeds; disposition
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The proceeds of such sale shall be first applied toward payment of all taxes or special assessments and all interest, penalties and costs thereon in the same manner as proceeds from tax foreclosure sales. If there are any proceeds remaining, such remainder shall be applied against any other liens held by the owner and if there remain any further proceeds, such proceeds shall be distributed as otherwise provided by law.
Source
- Laws 1967, c. 483, § 7, p. 1496.
Terms Used In Nebraska Statutes 77-2807
- 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
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.