§ 25-2193 — Encumbrances; life estate or estate for years; settlement in gross; investment of proceeds

Nebraska § 25-2193

• Jurisdiction: Nebraska
• Ch. 25: Courts; Civil Procedure

Text

If an estate for life or years be found to exist as an encumbrance upon any part of said property, and if the parties cannot agree upon the sum in gross which they will consider an equivalent for such estate, the court shall direct the avails of the encumbered property to be invested, and the proceeds to be paid to the encumbrancer during the existence of the encumbrance.

Legislative History

Source: R.S.1867, Code § 826, p. 540; R.S.1913, § 8309; C.S.1922, § 9261; C.S.1929, § 20-2193; R.S.1943, § 25-2193. Annotations: Holder of encumbrance on life estate is entitled to protection according to terms of his contract. Hartman v. Drake, 166 Neb. 87, 87 N.W.2d 895 (1958). Remainderman may not maintain partition over objection of life tenant, but may do so where life tenant does not object. Baskins v. Krepcik, 153 Neb. 36, 43 N.W.2d 624 (1950). Where there is an estate for life vested in a third person in the whole of the premises of which partition is sought, a remainderman cannot maintain an action in partition over the objection of the holder of the life estate. Bartels v. Seefus, 132 Neb. 841, 273 N.W. 485 (1937). Life tenant and remaindermen cannot force partition against the will of other remaindermen. Freeland v. Andersen, 114 Neb. 822, 211 N.W. 167 (1926). Remaindermen cannot maintain partition over objection of life tenant. Weddingfeld v. Weddingfeld, 109 Neb. 729, 192 N.W. 227 (1923).