2023 Nebraska Revised Statutes
Chapter 76 - Real Property
76-2403 - Adverse material fact, defined.
76-2403. Adverse material fact, defined.
Adverse material fact shall mean a fact which (1) significantly affects the desirability or value of the property to a party and is not reasonably ascertainable or known to a party or (2) establishes a reasonable belief that another party will not be able to, or does not intend to, complete that party's obligations under a contract creating an interest in real property.
Source
- Laws 1994, LB 883, § 3;
- Laws 2002, LB 863, § 2.
Annotations
This section and section 76-2417(3)(a) do not limit a seller's agent's duty to disclose facts only when he or she has actual knowledge of the existence of a material defect or only when he or she has knowledge that a home needs extensive repair. Rather, these sections contemplate whether seller's agent knew of any facts which significantly affected the desirability or value of the property and which were not reasonably ascertainable or known by the buyers, pertaining to the physical condition of the property or any material defects in the property. Hinson v. Forehead, 30 Neb. App. 55, 965 N.W.2d 793 (2021).
