Nebraska § 76-2429 Sections; supersede common law; extent;
construction

Nebraska Statutes

§ 76-2429 — Sections; supersede common law; extent; construction

Nebraska·Ch. 76 Real Property

Sections  76-2401  to  76-2430  shall supersede
the duties and responsibilities of the parties under the common law, including
fiduciary responsibilities of an agent to a principal, except as provided
in subsection (6) of section  76-2422 . Sections  76-2401  to  76-2430  shall be
construed broadly to accomplish their purposes.

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Legislative History

Source: Laws 1994, LB 883, § 29; Laws 2011, LB25, § 14. Annotations: Case law defining common-law fiduciary duties is irrelevant to the determination whether a real estate broker breached the duties owed by statute, unless otherwise specified in a written agency agreement pursuant to section 76-2422(6). Professional Mgmt. Midwest v. Lund Co., 284 Neb. 777, 826 N.W.2d 225 (2012). Unless otherwise specified in a written agency agreement pursuant to section 76-2422(6), the fiduciary duties owed by a real estate broker derive only from the performance of limited activities defined in section 81-885.01(2). Professional Mgmt. Midwest v. Lund Co., 284 Neb. 777, 826 N.W.2d 225 (2012).