40-111. Indivisible homestead; sale; conditions.
124 words·~1 min read·
/ne/chapter-40/40-111A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If from the evidence it appears that the land upon which the execution has been levied cannot be divided, the court shall, unless a sale has already been held, make an order directing the sale of the land under the execution; but at such sale no bid must be received unless it exceeds the amount of the homestead exemption. Where a sale has already been held, the proceeds of sale to an amount equaling the homestead exemption shall be set off to the judgment debtor as exempt, and the balance distributed as provided by order of the court.
Bid cannot be received unless it exceeds amount of homestead exemption and other existing valid liens. Sanne v. Sanne, 167 Neb. 683, 94 N.W.2d 367 (1959).