Observations of the legal scene from the Cornhusker State, home of Roscoe Pound and Justice Clarence Thomas' in-laws, and beyond.
Showing posts with label deeds. Show all posts
Showing posts with label deeds. Show all posts
Wednesday, March 26, 2008
Land contract or contract for deed transactions are non probate transfers and thus are not part of the deceased's estate under Section 30-2715 RRS Neb.Clark v. Clark, S-06-1254, 275 Neb. 276. Deceased's son held one half of the rights to a land contract with escrowed deed. Nebraska Supreme Court affirms judgment for son for unpaid land contract payments. "a seller in a land contract retains the title as security for the unpaid purchase money and has an equitable lien on the land to the extent of the debt, a seller has, for all intents and purposes,
a purchase-money mortgage.” A ccordingly, we conclude that the transfer to Dale of one-half of the balance remaining under the agreement was a non probate transfer within the meaning
of § 30-2715.
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