How much is an acre of land worth in Nebraska?

The average value of an acre of land was $2,645 for the year ending February 1, 2019. That's a 3%, or $75 per acre, decline from the prior year's value of $2,720 per acre.

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Nebraska Renunciation And Disclaimer of Property received by Intestate...

Nebraska Renunciation And Disclaimer of Property received by Intestate Succession

Category:

Real Estate - Disclaimers of Property Interest

State:

Nebraska

Control #:

NE-04-03

Format:

Instant download

Definition and meaning

The Nebraska Renunciation and Disclaimer of Property received by intestate succession is a legal document that allows an individual to formally refuse any property rights or interests inherited from a deceased person who did not leave a valid will. This process is guided by the Nebraska Revised Statutes, specifically Chapter 30, which outlines decedent's estates and the rights of heirs when a person dies intestate.

Essentially, this document serves as a declaration that the individual, known as the disclaimant, is choosing not to accept any inherited property, thereby allowing the property to pass on to other potential heirs, following the laws of intestate succession.

How to complete a form

To successfully complete the Nebraska Renunciation and Disclaimer of Property form, follow these steps:

Identify yourself: Enter your name as the disclaimant in the designated area.
Provide details of the decedent: Include the name of the deceased and the date of their death.
List the property: Describe the specific property interest or rights you are renouncing.
Sign and date the form: Make sure to sign the document, adding the date of your signature.
Notarization: Have the form notarized to verify its authenticity.
Deliver the form: Submit the completed form to the personal representative or executor of the estate.

Who should use this form

The Nebraska Renunciation and Disclaimer of Property is suitable for individuals who meet the following criteria:

They have inherited property following the death of a person who died without a will.
They wish to formally decline their right to accept the inherited property.
They are aware that their decision may affect the distribution of the deceased's assets according to Nebraska intestate succession laws.
They understand that the declaration is irrevocable, hence should make this decision carefully.

State-specific requirements

In Nebraska, certain requirements must be fulfilled when executing a Renunciation and Disclaimer of Property:

The disclaimer must be filed no later than nine months after the death of the decedent.
The form must comply with the Nebraska Revised Statutes, particularly § 30-2352.
Notarization is required to validate the document.

It is essential to ensure that the form adheres to these regulations to avoid any legal complications.

Benefits of using this form online

Utilizing the Nebraska Renunciation and Disclaimer of Property form online provides several advantages:

Convenience: Access the form from anywhere at any time, eliminating the need for in-person visits.
Time-saving: Download and complete the form quickly without lengthy appointments.
Guidance available: Online platforms often provide additional resources, ensuring individuals understand the process clearly.
Cost-effective: Many online forms can be obtained at a lower cost compared to traditional legal services.

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FAQ

Located in the middle of America where the Midwest meets the Great Plains is the great state of Nebraska. Offering higher incomes, cheap housing prices, great job market, and overall high quality of life, the Cornhusker State has become one of the best places to live in the United States.

The United States farm real estate value, a measurement of the value of all land and buildings on farms, averaged $3,160 per acre for 2019, up $60 per acre (1.9 percent) from 2018. The United States cropland value averaged $4,100 per acre, an increase of $50 per acre (1.2 percent) from the previous year.

The average value of an acre of land was $2,645 for the year ending February 1, 2019. That's a 3%, or $75 per acre, decline from the prior year's value of $2,720 per acre.

Nebraska comes in under the US average for violent crime and property crime. Among all 50 states, Nebraska had the twenty-first-lowest violent crime rate and the twenty-third-lowest property crime rate.

The Cheapest Per Acre In Gerlach, Nevada you can get land as cheap as $157 per acre. With that kind of a price tag, you know there has to be a catch2026 The first catch to get that kind of rate you would have to consider buying in bulk.

Tennessee, Arkansas, and West Virginia consistently rank as the cheapest places to buy residential land. Tennessee offers diverse geography, from mountains and lakes to acres of rural flat ground, and of course the iconic landmarks and attractions like Graceland and Nashville, the heart of country music.

The statewide all-land average value for the year ending Feb. 1, 2020, averaged $2,725 per acre, or about a 3% ($80 per acre) increase to the prior year's value of $2,645 per acre.

Nebraska has a typical Midwestern climate, which means big extremes between the four seasons- hot summers, and cold winters.They are cold and snowy, with average daytime highs barely above 30°F from December to February. At night the air drops well below freezing, and most of the state's precipitation falls as snow.

Nebraska is a fantastic place for job hunters. Besides being home to five Fortune 500 companies, the state has ample job opportunities in just about every industry. Taxes may be higher than a lot of people would like, but the overall cost of living is well below the national average.

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Renunciation And Disclaimer of Property received by Intestate Succession

Disclaimer of Property Interest-Nebraska

Nebraska Revised Statutes

Chapter 30. Decedents' Estates

Renunciation of succession.

(a)

(1) A person (or the representative of a deceased, incapacitated, or protected person) who is an heir, devisee, person succeeding to a renounced interest, donee, beneficiary under a testamentary or nontestamentary instrument, donee of a power of appointment, grantee, surviving joint owner or surviving joint tenant, beneficiary, or owner of an insurance contract or any incident of ownership therein, beneficiary or person designated to take pursuant to a power of appointment exercised by a testamentary or nontestamentary instrument, person who has a statutory entitlement to or election with respect to property pursuant to the Nebraska Probate Code, or recipient of any beneficial interest under any testamentary or nontestamentary instrument, may renounce in whole or in part, or with reference to specific parts, fractional shares, undivided portions or assets thereof, by filing a written instrument of renunciation within the time and at the place hereinafter provided.

(2) The instrument shall (i) describe the property or part thereof or the interest therein renounced, (ii) be signed and acknowledged by the person renouncing in the manner provided for in the execution of deeds of real estate, (iii) declare the renunciation and the extent thereof, and (iv) declare that the renunciation is an irrevocable and unqualified refusal to accept the renounced interest.

(3) The appropriate court in a proceeding under section 30-2806, may direct or permit a trustee under a testamentary or nontestamentary instrument to renounce, modify, amend, or otherwise deviate from any restriction on or power of administration, management or allocation of benefit upon finding that such restrictions on the exercise of such power may defeat or impair the accomplishment of the purposes of the trust whether by the imposition of tax or the allocation of beneficial interest inconsistent with such purposes or by other reason. Such authority shall be exercised after hearing and upon notice to all known persons beneficially interested in such trust, in the manner directed by said court.

(b) The instrument specified in (a)(1) and (a)(2) must be received by the transferor of the interest, his or her legal representative, the personal representative of a deceased transferor, the trustee of any trust in which the interest being renounced exists, or the holder of the legal title to the property to which the interest relates. To be effective for purposes of determining inheritance and estate taxes under articles 20 and 21 of Chapter 77, the instrument must be received not later than the date which is nine months after the later of (i) the date on which the transfer creating the interest in such person is made, or (ii) the date on which such person attains age twenty-one. If the circumstances which establish the right of a person to renounce an interest arise as a result of the death of an individual, the instrument shall also be filed in the court of the county where proceedings concerning the decedent's estate are pending, or where they would be pending if commenced. If an interest in real estate is renounced, a copy of the instrument shall also be recorded in the office of the register of deeds in the county in which said real estate lies. No person entitled to a copy of the instrument shall be liable for any proper distribution or disposition made without actual notice of the renunciation and no such person making a proper distribution or disposition in reliance upon the renunciation shall be liable for any such distribution or disposition in the absence of actual notice that an action has been instituted contesting the validity of the renunciation.

(c) Unless the transferor of the interest has otherwise indicated in the instrument creating the interest, the interest renounced, and any future interest which is to take effect in possession or enjoyment at or after the termination of the interest renounced, passes as if the person renouncing had predeceased the decedent or had died prior to the date on which the transfer creating the interest in such person is made, as the case may be, if the renunciation is within the time periods set forth in subsection (b) and if not within such time periods the interest renounced, and any future interest which is to take effect in possession or enjoyment at or after the termination of the interest renounced, passes as if the person renouncing had died on the date the interest was renounced. The person renouncing shall have no power to direct how the interest being renounced shall pass, except that the renunciation of an interest for which the right to renounce was established by the death of an individual shall, in the case of the spouse of the decedent, relate only to that statutory provision or that provision of the instrument creating the interest being renounced and shall not preclude the spouse from receiving the benefits of the renounced interest which may be derived as a result of the renounced interest passing pursuant to other statutory provisions or pursuant to other provisions of the instrument creating the interest unless such further benefits are also renounced. In every case when the renunciation is within the time periods set forth in subsection (b) the renunciation relates back for all purposes to the date of death of the decedent or the date on which the transfer creating the interest in such person is made, as the case may be.

(d) Any (1) assignment, conveyance, encumbrance, pledge or transfer of property therein or any contract therefor, (2) written waiver of the right to renounce or any acceptance of property or benefits therefrom or an interest therein by an heir, devisee, person succeeding to a renounced interest, donee, beneficiary under a testamentary or nontestamentary instrument, donee of a power of appointment, grantee, surviving joint owner or surviving joint tenant, beneficiary or owner of an insurance contract or any incident of ownership therein, beneficiary or person designated to take pursuant to a power of appointment exercised by a testamentary or nontestamentary instrument, person who has a statutory entitlement to or election with respect to property pursuant to the Nebraska Probate Code, or recipient of any beneficial interest under any testamentary or nontestamentary instrument, or (3) sale or other disposition of property pursuant to judicial process, made within the time periods set forth in subsection (b) shall not bar the right to renounce, but shall make a subsequent renunciation within the time period set forth in subsection (b) of this section ineffective for purposes of determination of inheritance and estate taxes under articles 20 and 21 of Chapter 77.

(e) Within thirty days of receipt of a written instrument of renunciation by the transferor of the interest, his or her legal representative, the personal representative of the decedent, the trustee of any trust in which the interest being renounced exists, or the holder of the legal title to the property to which the interest relates, as the case may be, such person shall attempt to notify in writing those persons who are known or ascertainable with reasonable diligence who shall be recipients or potential recipients of the renounced interest of the renunciation and the interest or potential interest such recipient shall receive as a result of the renunciation.

(f) The right to renounce granted by this section exists irrespective of any limitation on the interest of the person renouncing in the nature of a spendthrift provision or similar restriction. A trust beneficiary whose interest is subject to any limitation in the nature of a spendthrift provision or similar restriction may assign, sell, or otherwise convey such interest or any part thereof upon a finding by a court in a proceeding under section 30-2806, that the rights of other beneficiaries would not be impaired and that such assignment, sale, or other conveyance would not result in any substantial benefit to nonbeneficiaries of the trust at the expense of the trust or trust beneficiaries. Such finding may be made after hearing and upon notice to all known persons beneficially interested in such trust, in the manner directed by the court.

(g) This section does not abridge the right of any person to assign, convey, release, or renounce any property arising under any other section of this code or other statute.

(h) Any interest in property which exists on July 19, 1980, may be renounced after July 19, 1980, as provided herein. An interest which has arisen prior to July 19, 1980, in any person other than the person renouncing is not destroyed or diminished by any action of the person renouncing taken under this section.

Source: Laws 1974, LB 354, Â§ 74, UPC Â§ 2-801; Laws 1978, LB 650, Â§ 35; Laws 1980, LB 694, Â§ 9.

An exception to the general rule that a renunciation relates back "for all purposes" exists for individuals depriving themselves of any property whatsoever for purposes of qualifying for public assistance. Hoesly v. State, 243 Neb. 304, 498 N.W.2d 571 (1993).

There is nothing inconsistent in making claim to the whole of an estate and at the same time accepting something less than the whole under the will since property comprising a bequest of only a part of an estate would be included within a claim to the entire estate. Consequently, the claimant had no reason to renounce the will under the terms of this section. In re Estate of Nicholson, 211 Neb. 805, 320 N.W.2d 739 (1982).

Chap. 30, Â§30-2352.

Renunciation And Disclaimer of Property received by Intestate Succession

Disclaimer of Property Interest-Nebraska

Nebraska Revised Statutes

Chapter 30. Decedents' Estates

Renunciation of succession.

(a)

(g) This section does not abridge the right of any person to assign, convey, release, or renounce any property arising under any other section of this code or other statute.

Source: Laws 1974, LB 354, Â§ 74, UPC Â§ 2-801; Laws 1978, LB 650, Â§ 35; Laws 1980, LB 694, Â§ 9.

Chap. 30, Â§30-2352.

Nebraska Renunciation And Disclaimer of Property received by Intestate Succession

Definition and meaning

How to complete a form

Who should use this form

State-specific requirements

Benefits of using this form online

Related forms

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