Nebraska § 40-116 Homestead; protection of surplus after execution sale

Nebraska Statutes

§ 40-116 — Homestead; protection of surplus after execution sale

Nebraska § 40-116

Ch. 40Homesteads

This text of Nebraska § 40-116 (Homestead; protection of surplus after execution sale) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 40-116 (2026).

Text

If the homestead be conveyed by the claimant, or sold for the satisfaction of any lien mentioned in section  40-103 , the proceeds of such sale, beyond the amount necessary to the satisfaction of such lien, and not exceeding the amount of the homestead exemption, shall be entitled, for the period of six months thereafter, to the same protection against legal process and the voluntary disposition of the claimant which the law gives to the homestead. The sale and disposition of one homestead shall not be held to prevent the selection or purchase of another, as provided in sections  40-101  to  40-116 .

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If the homestead be conveyed by the claimant, or sold for the satisfaction of any lien mentioned in section 40-103 , the proceeds of such sale, beyond the amount necessary to the satisfaction of such lien, and not exceeding the amount of the homestead exemption, shall be entitled, for the period of six months thereafter, to the same protection against legal process and the voluntary disposition of the claimant which the law gives to the homestead. The sale and disposition of one homestead shall not be held to prevent the selection or purchase of another, as provided in sections 40-101 to 40-116 .

Legislative History

Source: Laws 1879, § 16, p. 61; R.S.1913, § 3091; C.S.1922, § 2831; C.S.1929, § 40-116; R.S.1943, § 40-116. Annotations: Protection accorded to the proceeds of the sale of a homestead applies to property received in exchange for the homestead, not exceeding in value the amount of the exemption. Meyer v. Platt, 137 Neb. 714, 291 N.W. 86 (1940). Under former law, proceeds arising from sale of homestead, not exceeding two thousand dollars, was protected for period of six months, to same extent as homestead. Corey v. Plummer, 48 Neb. 481, 67 N.W. 445 (1896); Prugh v. Portsmouth Savings Bank, 48 Neb. 414, 67 N.W. 309 (1896); Scheel v. Lackner, 4 Neb. Unof. 221, 93 N.W. 741 (1903).