§ 45-738 — Licensee; failure to deliver abstract of title

Nebraska § 45-738

• Jurisdiction: Nebraska
• Ch. 45: Interest, Loans, and Debt

Text

If a licensee in connection
with a residential mortgage
loan has possession of an abstract of title and fails to deliver the abstract
to the borrower within twenty business days of the borrower's request made
by certified mail, return receipt requested, in connection with a proposed
sale of the real property, the borrower may authorize the preparation of a
new abstract of title to the real property and the person failing to deliver
the original abstract shall pay the borrower the reasonable costs of the preparation
of the new abstract of title. If a borrower brings an action against the person
failing to deliver an abstract of title to recover the payment made, the borrower
shall also be entitled to recover reasonable attorney's fees and court costs
incurred in the action.

Legislative History

Source: Laws 1989, LB 272, § 15; R.S.1943, (2004), § 45-712; Laws 2009, LB328, § 23.