52-1701. Terms, defined.

180 words·~1 min read·/ne/chapter-52/52-1701

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

For purposes of sections 52-1701 to 52-1708 :

(1)Assignee shall mean the holder, and his or her successors and assigns, of a security interest in rents which has been created, provided, assigned, or granted by an assignor;

(2)Assignment instrument shall mean any mortgage, trust deed, assignment of leases, assignment of rents, or other instrument or agreement which creates, provides, assigns, or grants a security interest in rents;

(3)Assignor shall mean a person, and his or her successors and assigns, who has created, provided, assigned, or granted a security interest in rents to an assignee;

(4)Lease shall mean any license, lease, contract, or other agreement for the use or possession of real estate;

(5)Rent party shall mean the party that is obligated under a lease to pay rents;

(6)Rents shall mean any right to income, rents, proceeds, issues, profits, royalties, or any other payment or benefit derived under a present or future lease; and

(7)Security interest in rents shall mean any interest in rents or leases which secures payment or performance of an obligation.