Nebraska § 76-2403 Adverse material fact, defined

Nebraska Statutes

§ 76-2403 — Adverse material fact, defined

Nebraska § 76-2403

Ch. 76Real Property

This text of Nebraska § 76-2403 (Adverse material fact, defined) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 76-2403 (2026).

Text

Adverse material fact shall mean a fact which (1) significantly affects the desirability or value of the property to a party and is not reasonably ascertainable or known to a party or (2) establishes a reasonable belief that another party will not be able to, or does not intend to, complete that party's obligations under a contract creating an interest in real property.

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Legislative History

Source: Laws 1994, LB 883, § 3; Laws 2002, LB 863, § 2. Annotations: This section and section 76-2417(3)(a) do not limit a seller's agent's duty to disclose facts only when he or she has actual knowledge of the existence of a material defect or only when he or she has knowledge that a home needs extensive repair. Rather, these sections contemplate whether seller's agent knew of any facts which significantly affected the desirability or value of the property and which were not reasonably ascertainable or known by the buyers, pertaining to the physical condition of the property or any material defects in the property. Hinson v. Forehead, 30 Neb. App. 55, 965 N.W.2d 793 (2021).