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Abstract

I. Introduction … A. Theory of a Land Contract

II. Some Major Considerations under a Land Contract … A. Escrow Agreements … B. Taxes … C. Improvements … D. Crops … 1. Status of Crops after Judicial Sale … E. Insurance … F. Waste … G. Third Party Liability … H. The Relationship of the Buyer to the Seller’s Creditors and Assignees … I. Statutory Interest of Surviving Spouse in Deceased’s Contract Equity … J. Assignment … 1. Assignment by Vendee … 2. Assignment by Vendor

III. Factors Affecting the Enforceability of the Contract … A. Statute of Frauds … 1. The Memorandum … 2. Part Performance … a. Solely Referable Rule … b. Payment of the Purchase Price … 3. Possession … 4. Improvements … B. Notice and the Recording Acts … C. Joint Tenancies and Tenancies in Common … D. Mistake and Incapacity … E. Fraud and Misrepresentation … F. Deed of Trust and Power of Sale … G. Mortgage by Deed Absolute

IV. Mortgages … A. The Mortgage Foreclosure Process in Nebraska … 1. Stay of Foreclosure … 2. The Sale … 3. Bidding … 4. Redemption and Confirmation

V. Strict Foreclosure of Land Contracts in Nebraska … A. Where Value of Land Is Less Than the Amount Due under the Contract … B. Equitable Considerations … C. Forfeiture by Contract … D. Ejectment … E. Rescission and Restitution

VI. Conclusion

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