Homeowners' Association — Lien; Foreclosure; Statement

Nebraska Legislature NEBRASKA LEGISLATURE The official site of the Nebraska Unicameral Legislature MENU Home Chamber Viewer View Bills One Liners Statutes Summary Hearings Agenda Journal Budget Rule Book Constitution Legislature About The Nebraska State Legislature The Budget Process History of the Unicameral Lawmaking in Nebraska Maps Nebraska Blue Book On Unicameralism Photos Publications Senator Qualifications Student Programs Testifying at a Hearing Unicameral Update Visiting the Capitol Bills and Laws Introduction Search Bills Search Laws Print On Demand Calendar Committees About Standing and Special Committees Standing Committees Public Input Options Select & Special Committees Compact Commissions Hearing Schedules Occupational Board Reform Act Survey Results Legislative Divisions Clerk of the Legislature Legislative Oversight Legislative Fiscal Office Legislative Research Office Public Counsel/Ombudsman Revisor of Statutes Legislative Histories History Request News Reports Overview Agencies Committee Fiscal/Budget General Research Interim Studies Lobbyist Registration Legislative Oversight Public Counsel Revisor of Statutes Senators Senators' Landing Pages Senators' Duties Speaker Find your Senator Photos Session Information Transcripts For Agencies For Citizens For Journalists For Lobbyists For Students and Teachers Nebraska Revised Statute 52-2001 Revised Statutes Chapter 52 52-2001 Print Friendly View Statute 52-1907 Chapter 52 Index View Statute 52-2101 Chapter 52 52-2001. Lien; foreclosure; notice; priority; costs and attorney's fees; homeowners' association; furnish statement; restrictions on lien; payments to escrow account; use. (1) A homeowners' association has a lien on a member's real estate for any assessment levied against real estate from the time the assessment becomes due and a notice containing the dollar amount of such lien is recorded in the office where mortgages or deeds of trust are recorded. The homeowners' association's lien may be foreclosed in like manner as a mortgage on real estate but the homeowners' association shall give reasonable notice of its action to all lienholders of real estate whose interest would be affected. Unless the homeowners' association declaration or agreement otherwise provides, fees, charges, late charges, and interest charged are enforceable as assessments under this section. If an assessment is payable in installments, the full amount of the assessment may be a lien from the time the first installment thereof becomes due. (2) A lien under this section is prior to all other liens and encumbrances on real estate except (a) liens and encumbrances recorded before the recordation of the declaration or agreement, (b) a first mortgage or deed of trust on real estate recorded before the notice required under subsection (1) of this section has been recorded for a delinquent assessment for which enforcement is sought, and (c) liens for real estate taxes and other governmental assessments or charges against real estate. The lien under this section is not subject to the homestead exemption pursuant to section 40-101 . (3) Unless the declaration or agreement otherwise provides, if two or more homeowners' associations have liens for assessments created at any time on the same real estate, those liens have equal priority. (4) A lien for unpaid assessments is extinguished unless proceedings to enforce the lien are instituted within three years after …

Showing excerpt. Read full text on official source →