51-705. Acquisition of title to undocumented property; when.
92 words·~1 min read·
/ne/chapter-51/51-705A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Subject to any existing security interest in the property, a museum may acquire title to undocumented property held by the museum for at least seven years as follows:
(1)The museum must give notice as provided in subsection
(3)of section 51-703 that the museum is asserting title to the undocumented property; and
(2)If a claimant or lender does not respond to such notice within one year by giving a written notice of intent to retain an interest in the property on loan, the museum's title to the property becomes absolute.