Neb. Rev. Stat. 76-825 (Condominium Act)
The Nebraska Condominium Act governs condominiums created in Nebraska on or after January 1, 1984, while an earlier condominium property law continues to govern condominiums formed before that date. It covers the creation of condominium regimes through a declaration, the unit owners association and its governing board, common elements, assessments and liens, association records, and purchaser protections such as public offering statements. Certain of its provisions, including its resale disclosure requirement, apply to all condominiums in the state regardless of when they were created.
Neb. Rev. Stat. 76-884 (Resale of Unit; Information Required)
Unless a public offering statement is required or the sale is exempt under 76-878(b), the unit owner (and any real estate professional offering the unit) furnishes the purchaser before conveyance the declaration (without plats and plans), the bylaws, the rules, and seven items: the monthly common expense assessment and any unpaid common expense or special assessment due from the selling owner; other fees payable by unit owners; the most recent balance sheet and income and expense statement; the current operating budget; a statement that a copy of any insurance policy for the benefit of unit owners is available from the association on request; the remaining term of any leasehold estate; and any threatened or pending litigation involving the unit or the association. The association furnishes the information in writing within 10 days after the unit owner's request; no fee is stated. The purchaser is not liable for any unpaid assessment or fee beyond the amounts set forth, and the seller is not liable for the association's errors or delay. No cancellation right is given. Applies to condominiums created before January 1, 1984 as well, for events after that date (76-826). Nebraska has no planned-community or homeowners association act.
Official textNeb. Rev. Stat. 76-874 (Lien for assessments; statement of unpaid assessments)
Gives the association a lien on a unit for assessments from the time they become due, with the priority, perfection, and enforcement rules of the Uniform Condominium Act. On a unit owner's written request the association must furnish a recordable statement of the unpaid assessments against the unit within 10 business days, binding on the association, the executive board, and every unit owner. Applies to condominiums created before January 1, 1984 as well, for events after that date (76-826).
Official textNeb. Rev. Stat. 76-878 (Applicability; exemptions)
The purchaser protection sections (76-878 to 76-894) apply to every unit under the Condominium Act except as waived by purchasers in an all-nonresidential condominium. Neither a public offering statement nor a resale statement is required for a gratuitous or testamentary disposition, a disposition by court order, by a government, by foreclosure or deed in lieu, to a person in the business of selling real estate who intends to offer the units, or one the purchaser may cancel at any time without penalty; for a condominium of not more than 25 units with no development rights to add units and no reserved power to make it part of a larger condominium; or for a condominium of units not intended for residential use.
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