Nebraska Revised Statute 76-1018

Chapter 76 Section 1018

76-1018.

Act, how cited.

Sections 76-1001 to 76-1018 shall be known and may be cited as Nebraska Trust Deeds Act.

Source

  • Laws 1965, c. 451, § 17, p. 1433;
  • Laws 1994, LB 1275, § 8.

Annotations

  • A guaranty that was not secured by a trust deed was not subject to the provisions of the Nebraska Trust Deeds Act. Mutual of Omaha Bank v. Murante, 285 Neb. 747, 829 N.W.2d 676 (2013).

  • The Nebraska Trust Deeds Act results in a fiduciary relationship between the trustee and the creditors secured by a deed of trust. Arizona Motor Speedway v. Hoppe, 244 Neb. 316, 506 N.W.2d 699 (1993).

  • The Nebraska Trust Deeds Act provides a specific statutory plan to obtain performance of an obligation, prescribes a distinct procedure to dispose of security for performance of an obligation, and, generally, authorizes a form of financing quite apart from other methods recognized under Nebraska law. Sports Courts of Omaha v. Meginnis, 242 Neb. 768, 497 N.W.2d 38 (1993).

  • Nebraska Trust Deeds Act did not violate Article III, section 14, Constitution of Nebraska. Blair Co. v. American Savings Co., 184 Neb. 557, 169 N.W.2d 292 (1969).