Nebraska § 76-2403 - Adverse material fact, defined.
Full text of Nebraska Revised Statutes of Nebraska § 76-2403 — Adverse material fact, defined., with citation guidance and answers to common questions.
§ 76-2403. Adverse material fact, defined.
Adverse material fact shall mean a fact which (1) significantly affects the desirability or value of the property to a party and is not reasonably ascertainable or known to a party or (2) establishes a reasonable belief that another party will not be able to, or does not intend to, complete that party's obligations under a contract creating an interest in real property.
This section and section 76-2417(3)(a) do not limit a seller's agent's duty to disclose facts only when he or she has actual knowledge of the existence of a material defect or only when he or she has knowledge that a home needs extensive repair. Rather, these sections contemplate whether seller's agent knew of any facts which significantly affected the desirability or value of the property and which were not reasonably ascertainable or known by the buyers, pertaining to the physical condition of the property or any material defects in the property. Hinson v. Forehead, 30 Neb. App. 55, 965 N.W.2d 793 (2021).
Frequently Asked Questions About Nebraska § 76-2403
What does Revised Statutes of Nebraska § 76-2403 cover?
Section 76-2403 ("Adverse material fact, defined.") is part of the Revised Statutes of Nebraska, the codified statutory law of Nebraska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nebraska § 76-2403?
A common citation format is "Revised Statutes of Nebraska § 76-2403" (Nebraska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nebraska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nebraska official source linked on this page or consult a licensed Nebraska attorney.
How does Nebraska § 76-2403 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nebraska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nebraska.