property

Nebraska Homestead Exemption

Nebraska's homestead law (Neb. Rev. Stat. 40-101) protects a residence from judgment liens and forced sale up to $120,000 in value. The protected area is up to 160 acres chosen by the owner outside a city or village, or up to two contiguous lots inside a city or village. The claimant must be a living Nebraska resident who actually occupies the home with a present right of possession, and may have only one homestead at a time. It does not defeat a mortgage the owner signed.