§ 52-604 — Sale; proceeds; distribution

Nebraska § 52-604

• Jurisdiction: Nebraska
• Ch. 52: Liens

Text

From the proceeds of such sale the
claimant shall make application
in the following order: (1) To satisfy his or her lien, including
the reasonable charges of notice, advertisement, and sale; and (2) to satisfy the obligations secured by the lien
or security interest of any lienholder or security interest holder of record.
The balance, if any, of such proceeds shall be delivered to the county treasurer
of the county in which the sale was made. The treasurer of the county in which
the property was sold shall issue his or her receipt for
the balance of such proceeds. The county treasurer shall make
proper entry in the books of his or her office of all such
proceeds paid over to him or her, and shall hold the money for
a period of five years, and immediately thereafter pay the same into the school fund of the
proper county, to be appropriated for the support of the schools, unless the
owner of the property sold, his or her legal representatives, or any lienholder or security interest holder of record whose lien or security interest has not previously been
satisfied shall, within
such period of five years after such proceeds have
been deposited with the treasurer, furnish satisfactory evidence of the ownership
of such property or satisfactory evidence of the lien or security interest,
in which event he, she, or they shall be entitled to receive from the county treasurer the amount so deposited
with him or her.

Legislative History

Source: Laws 1923, c. 118, § 4, p. 281; C.S.1929, § 52-604; R.S.1943, § 52-604; Laws 1974, LB 960, § 3; Laws 2005, LB 82, § 1; Laws 2014, LB851, § 3.