• US Legal Forms

Nebraska Subordinaton of Mortgage Lien to Easement and Right of Way

State:
Multi-State
Control #:
US-OG-1212
Format:
Word; 
Rich Text
Instant download

Description

This form is a subordination of mortgage lien to easement and right of way.

Nebraska Subordination of Mortgage Lien to Easement and Right of Way Explained In Nebraska, when it comes to real estate transactions involving easements and rights of way, the concept of subordination of mortgage lien plays a crucial role. Subordination refers to the process of rearranging the priority or ranking of different encumbrances on a property title. Typically, the mortgage lien holds the top position in terms of priority, but in some cases, it may be necessary to subordinate it to an easement or a right of way. An easement grants an individual or entity the legal right to access or use a specific portion of another person's property. A right of way, on the other hand, is commonly used for roadways or pathways, and it guarantees unimpeded passage through a property. Both easements and rights of way can be essential for utility companies, government agencies, or even neighboring property owners to access certain areas or provide necessary services. Nebraska recognizes various types of subordination of mortgage lien to easement and right of way situations: 1. Voluntary Subordination: If a property owner voluntarily chooses to subordinate their mortgage lien, they may do so through an agreement with the holder of the easement or right of way. This agreement will outline the specific terms and conditions of the subordination, including the rights and responsibilities of each party involved. 2. Involuntary Subordination: In some cases, a court may order involuntary subordination of a mortgage lien to an easement or right of way. This can occur when it is deemed necessary in the interest of public welfare, fair compensation has been provided to the property owner, or for other legal reasons established by Nebraska law. 3. Temporary Subordination: Temporary subordination is typically used when a property owner needs to grant temporary access rights or construction easements, such as during infrastructure repairs or development projects. These temporary arrangements allow for the mortgage lien to be subordinated for a specific period, after which it returns to its original priority. 4. Permanent Subordination: Permanent subordination is a more long-term arrangement, wherein the mortgage lien is permanently downgraded in priority to facilitate the use and enjoyment of an easement or right of way. This type of subordination is often seen in cases where a property is divided, and a portion is designated for a specific access or utility purposes. Regardless of the type, Nebraska law requires the subordination agreement to be properly executed, acknowledged, and recorded in the county where the property is located. This ensures that the agreement is legally binding and visible to any potential buyers, lenders, or other parties interested in the property. In conclusion, Nebraska's subordination of mortgage lien to easement and right of way is a legal process that allows property owners to grant priority to certain access rights and utilities over their mortgage liens. Understanding the different types of subordination and their implications is essential for both property owners and prospective buyers, ensuring a transparent and legally compliant real estate transaction.

How to fill out Nebraska Subordinaton Of Mortgage Lien To Easement And Right Of Way?

If you need to total, down load, or produce legal document layouts, use US Legal Forms, the most important variety of legal kinds, that can be found online. Utilize the site`s simple and convenient look for to discover the files you want. A variety of layouts for organization and personal uses are sorted by types and says, or keywords and phrases. Use US Legal Forms to discover the Nebraska Subordinaton of Mortgage Lien to Easement and Right of Way in just a few click throughs.

If you are currently a US Legal Forms buyer, log in to your accounts and then click the Download option to obtain the Nebraska Subordinaton of Mortgage Lien to Easement and Right of Way. You may also entry kinds you earlier saved from the My Forms tab of your own accounts.

If you are using US Legal Forms the very first time, refer to the instructions listed below:

  • Step 1. Be sure you have chosen the shape for that right city/land.
  • Step 2. Make use of the Preview method to check out the form`s information. Don`t overlook to learn the explanation.
  • Step 3. If you are not satisfied together with the kind, make use of the Look for field towards the top of the monitor to get other versions from the legal kind template.
  • Step 4. Once you have found the shape you want, click on the Acquire now option. Pick the pricing prepare you choose and put your accreditations to register for the accounts.
  • Step 5. Process the purchase. You can utilize your credit card or PayPal accounts to complete the purchase.
  • Step 6. Pick the file format from the legal kind and down load it on the product.
  • Step 7. Total, revise and produce or indicator the Nebraska Subordinaton of Mortgage Lien to Easement and Right of Way.

Every single legal document template you get is yours permanently. You might have acces to every kind you saved inside your acccount. Select the My Forms segment and select a kind to produce or down load yet again.

Compete and down load, and produce the Nebraska Subordinaton of Mortgage Lien to Easement and Right of Way with US Legal Forms. There are millions of skilled and status-particular kinds you can use for your personal organization or personal requirements.

Form popularity

FAQ

An easement can be acquired by prescription, or adverse possession, such as by the continuous use of a road across another's property, under a claim of right, for a period of more than ten (10) years (under Nebraska law). Such use may ripen into a prescriptive easement that gives the holder continued use of the road.

An easement gives people or organizations the right to access and use your property in specific situations for a limited purpose. A right of way is a type of easement that establishes the freedom to use a pathway or road on another's property without conferring ownership. A right of way easement is very common.

ofway easement allows someone to travel through another person's land to get somewhere else. It can be offered to one person, several people, or the public. The landowner who grants an easement can't build structures within a prescribed area surrounding it, and they also can't use fencing to hinder access.

Vehicles approaching or entering intersection at same time; right-of-way; entering a highway or roadway. (1) When two vehicles approach or enter an intersection from different roadways at approximately the same time, the driver of the vehicle on the left shall yield the right-of-way to the vehicle on the right.

Interesting Questions

More info

The following flowcharts outline the specific procedures to be followed when acquiring right of way. When right of way is required on a Nebraska Department ... In determining interests in a parcel of land, the general rule is “first in time, first in right.” When a lender records a mortgage prior to the conservation ...Encumbrance: Any lien - such as a mortgage ... Also referred to as a deed restriction. Right-of-Way: The right which one has to cross the lands of another. Deeds are to contain a full, current legal description of the property, metes and bounds of the easement, name of the party transferring the property (grantor) ... EASEMENTS & RIGHT OF WAYS FORMS PROGRAM. The Easement and Rights of Way Forms Program has over 332 forms relating to Easements and Rights of Way. For the purposes of completing the Loan, the parties hereto desire expressly to subordinate the Lease to the lien of the Mortgage, it being a condition ... View Statute 77-202.03 Property taxable; exempt status; period of exemption; change of status; late filing authorized; when; penalty; lien; new applications; ... Whenever any person, by conveyance, takes a life interest and in the same conveyance an interest is limited by way of remainder, either immediately or mediately ... When a mortgage predates an easement on a property, the easement could be extinguished in a foreclosure if the owners default on their mortgage payments. Subordination of the Lien to Mortgages. The lien of the assessments provided for herein shall be subordinate to the lien of any first mortgage. Sale or ...

Trusted and secure by over 3 million people of the world’s leading companies

Nebraska Subordinaton of Mortgage Lien to Easement and Right of Way