Tax Foreclosure Definition

Specifically: 
Foreclosure is a legal proceeding by which the county enforces payment of real property taxes. The county acquires legal title to a property if the taxes aren’t paid by a certain date. In Nebraska, real property is normally subject to foreclosure one year after the taxes become delinquent.

Foreclosure procedures:
The following is a brief description of the steps involved in the foreclosure process. 

Action taken by county:

1. After the foreclosure case is prepared, notice of the foreclosure is run in a legal newspaper. Notice of foreclosure may be made by personal service.
2. Approximately 30 days later, the County Attorney applies for a judgment and decree through the District Court.
3. Twenty days after a tax foreclosure decree is signed, a sale will be held.
4. Two years after Tax Foreclosure Sale is held, the successful bidder will be able to obtain the deed to the property.

Only the following can redeem property:

1. a person with an interest in the property at the date of judgment and decree
2. an heir or devisee of a person with an interest in the property
3. a holder of a lien of record on the property, such as a mortgage company

Taxpayer's course of action:

1. Your property can be removed from the foreclosure list before publication if you pay the full tax and interest for the year(s) causing foreclosure. Interest is 14% per year.
2. After the foreclosure case is filed, you can remove your property from the foreclosure list by paying the full tax and interest for the year(s) causing foreclosure.

Questions?
Please call (402) 444-4787