A disclaimer deed is a deed in which a spouse disclaims any interest in the real property acquired by the other spouse. A mortgage company often asks a borrower to sign a disclaimer deed so that his spouse not having her name on the loan, cannot claim any interest in the property.
Nebraska Disclaimer Deed
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Multi-State
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US-01994BG
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Word;
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FAQ
To complete the transfer, the deed must be recorded in the office of the Register of Deeds of the county where the property is located. All deeds also require a Form 521 - Real Estate Transfer Statement.
You may be able to avoid probate in Nebraska if you: Establish a Living Trust. Title assets in Joint Tenancy.
The deed could get complicated, and its validity contested if it is not recorded correctly or if the legal criteria are not met. If there is no provision for a contingent beneficiary, the transfer on the death deed is rendered ineffective if the named beneficiary passes away before the property owner.
The Validity of Lady Bird Deeds in Nebraska The individual also maintains the right to sell, lease, or mortgage the property without the beneficiaries' consent. However, Lady Bird deeds are not recognized in Nebraska. Similar outcomes can often be achieved using a revocable living trust or a TOD deed.
The Nebraska Trust Deeds Act is the statue that governs foreclosures in this state. Under this statue, foreclosure is a non-judicial remedy. The deed of trust, which secures the title to the property, is transferred to the foreclosing entity in a power of sale.
NOTE: All deeds must contain a full, current legal description of the property, name of the party transferring the property (grantor), name of the party receiving the property (grantee) and must be signed by grantor(s) and notarized.
There are two common ways to co-own property in Nebraska: Joint tenancy (also called "joint tenancy with right of survivorship"). If you co-own real estate as joint tenants with right of survivorship, when one co-owner dies, that co-owner's share of the property will automatically go to the surviving co-owner(s).
Stat. §§ 76-3401-76-3423 (the ?Act?). The Act allows an individual to transfer property located in Nebraska to one or more beneficiaries effective at the transferor's death through the use of a special deed referred to as a ?Transfer on Death Deed.?
