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.
Neb. Rev. Stat. § 76-2403
Adverse material fact, defined
Applied in 1 court decision — leading case 30 Neb. Ct. App. 55 - Hinson v. Forehead (2021)
Most recently applied in 30 Neb. Ct. App. 55 - Hinson v. Forehead (July 2021)
Laws 1994, LB 883, § 3; Laws 2002, LB 863, § 2.
Official source: Nebraska Legislature. Reproduced from public-domain Nebraska statutes; confirm against the official source for the current text. Not legal advice.