Nebraska § 76-863 Termination of contracts and leases of declarant

Nebraska Statutes

§ 76-863 — Termination of contracts and leases of declarant

Nebraska § 76-863

Ch. 76Real Property

This text of Nebraska § 76-863 (Termination of contracts and leases of declarant) 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. § 76-863 (2026).

Text

If entered into before the executive board elected by the unit owners pursuant to subsection (f) of section  76-861  takes office, (i) any management contract, service contract, employment contract, or lease of recreational or parking areas or facilities or (ii) any other contract or lease between the association and a declarant or an affiliate of a declarant may be terminated without penalty at any time after the executive board elected by the unit owners pursuant to subsection (f) of section  76-861  takes office upon not less than one hundred eighty days' notice to the other party. This section does not apply to any lease the termination of which would terminate the condominium or reduce its size, unless the real estate subject to that lease was included in the condominium for the purpo

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If entered into before the executive board elected by the unit owners pursuant to subsection (f) of section 76-861 takes office, (i) any management contract, service contract, employment contract, or lease of recreational or parking areas or facilities or (ii) any other contract or lease between the association and a declarant or an affiliate of a declarant may be terminated without penalty at any time after the executive board elected by the unit owners pursuant to subsection (f) of section 76-861 takes office upon not less than one hundred eighty days' notice to the other party. This section does not apply to any lease the termination of which would terminate the condominium or reduce its size, unless the real estate subject to that lease was included in the condominium for the purpose of avoiding the right of the association to terminate a lease under this section. This section shall not apply to easements or licenses for the benefit of other property.