Nebraska § 51-705 Acquisition of title to undocumented property; when

Nebraska Statutes

§ 51-705 — Acquisition of title to undocumented property; when

Nebraska·Ch. 51 Libraries and Museums

Subject to any existing security interest in the property, a museum may acquire title to undocumented property held by the museum for at least seven years as follows:

(1)The museum must give notice as provided in subsection (3) of section 51-703 that the museum is asserting title to the undocumented property; and

(2)If a claimant or lender does not respond to such notice within one year by giving a written notice of intent to retain an interest in the property on loan, the museum's title to the property becomes absolute.

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Subject to any existing security interest in the property, a museum may acquire title to undocumented property held by the museum for at least seven years as follows:
(1) The museum must give notice as provided in subsection (3) of section 51-703 that the museum is asserting title to the undocumented property; and
(2) If a claimant or lender does not respond to such notice within one year by giving a written notice of intent to retain an interest in the property on loan, the museum's title to the property becomes absolute.

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