§ 52-1701 — Terms, defined

For purposes of sections 52-1701 to 52-1708 :
(1) Assignee shall mean the holder, and his or her successors and assigns, of a security interest in rents which has been created, provided, assigned, or granted by an assignor;
(2) Assignment instrument shall mean any mortgage, trust deed, assignment of leases, assignment of rents, or other instrument or agreement which creates, provides, assigns, or grants a security interest in rents;
(3) Assignor shall mean a person, and his or her successors and assigns, who has created, provided, assigned, or granted a security interest in rents to an assignee;
(4) Lease shall mean any license, lease, contract, or other agreement for the use or possession of real estate;
(5) Rent party shall mean the party that is obligated under a lease to pay rents;
(6) Rents shall mean any right to income, rents, proceeds, issues, profits, royalties, or any other payment or benefit derived under a present or future lease; and
(7) Security interest in rents shall mean any interest in rents or leases which secures payment or performance of an obligation.

Legislative History

Source: Laws 1993, LB 14, § 1.