§ 52-2108 — Release of lien; procedure; escrow established or interpleader filed; recording of document required; failure to file; additional procedures

Nebraska § 52-2108

• Jurisdiction: Nebraska
• Ch. 52: Liens

Text

(1) Whenever a notice of a commercial real estate broker's
lien has been recorded, the record owner of the commercial real estate may
have the lien released by depositing funds equal to the full amount stated
in the notice of lien plus fifteen percent to be applied towards any lien
under section 52-2103 . These funds shall be held in escrow by such person
and by such process which may be agreed to by the parties, either in the commission
agreement or otherwise, for the payment to the commercial real estate broker
or otherwise for resolution for their dispute or, in the absence of any such
mutually agreed person or process, the funds may be deposited with the district
court by the filing of an interpleader. Upon such deposit of funds by interpleader,
the commercial real estate shall be considered released from such lien or
claim of lien. Upon written notice to the commercial real estate broker that
the funds have been escrowed or an interpleader filed, the commercial real
estate broker shall, within ten business days, record in the office of the
register of deeds where the notice of commercial real estate broker's lien
was filed pursuant to section 52-2103 a document stating that the lien is
released and the commercial real estate released by an escrow established
pursuant to this section or by interpleader. If the commercial real estate
broker fails to file such document, the person holding the funds may sign
and file such document and deduct from the escrow the reasonable cost of preparing
and filing the document. Upon the filing of such document, the commercial
real estate broker shall be deemed to have an equitable lien on the escrow
funds pending a resolution of the commercial real estate broker's claim for
payment and the funds shall not be paid to any person, except for such payment
to the holder of the funds as set forth in this section, until a resolution
of the commercial real estate broker's claim for payment has been agreed to
by all necessary parties or ordered by a court having jurisdiction.
(2) Except
as otherwise provided in this section, whenever a commercial real estate broker's
lien has been recorded and an escrow account is established either from the
proceeds from the transaction, conveyance, or any other source of funds computed
as one hundred fifteen percent of the amount of the claim for lien, then the
lien against the commercial real estate shall be extinguished and immediately
become a lien on the funds contained in the escrow account. The requirement
to establish an escrow account, as provided in this section, shall not be
cause for any party to refuse to complete or close the transaction.

Legislative History

Source: Laws 2013, LB3, § 14.