Section 76-3703 - [Operative 1/1/2025] Foreign-owned real estate; prohibited; when(1) Except as provided in the Foreign-owned Real Estate National Security Act, a nonresident alien, a foreign corporation, a government other than the United States Government or a government of its states, political subdivisions, territories, or possessions, or an agent, a trustee, or a fiduciary thereof:(a) Shall not purchase, acquire title to, or take any real estate or any leasehold interest extending for a period for more than five years or any other greater interest less than fee in any real estate in this state by descent, devise, purchase or otherwise on or after January 1, 2025, except as provided in the Foreign-owned Real Estate National Security Act; and(b) Shall be in compliance with the federal Agricultural Foreign Investment Disclosure Act of 1978, 7 U.S.C. 3501 et seq., with respect to any real estate in Nebraska.(2) Except as provided in the Foreign-owned Real Estate National Security Act, a restricted entity, a nonresident alien, a foreign corporation, a government other than the United States Government or a government of its states, political subdivisions, territories, or possessions, or an agent, a trustee, or a fiduciary thereof, that on or after January 1, 2025, purchases, acquires title to, or takes any real estate or any leasehold interest in violation of the Foreign-owned Real Estate National Security Act shall be subject to divestment as prescribed under section 76-3712.Neb. Rev. Stat. §§ 76-3703
Laws 1889, c. 58, § 1, p. 483; R.S.1913, § 6273; Laws 1921, c. 142, § 1, p. 608; C.S.1922, § 5687; C.S.1929, § 76-502; Laws 1939, c. 97, § 1, p. 417; C.S.Supp.,1941, § 76-502; R.S.1943, § 76-402; R.S.1943, (2018), § 76-402; Laws 2024, LB 1301, § 6.Renumbered from § 76-402 and amended by Laws 2024, LB 1301,§ 6, eff. 7/19/2024, op. 1/1/2025.