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2016 Statute



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79-3101.Words and phrases defined. The words "real property" and "real estate" as used in this act, in addition to the definition thereof contained in the Revised Statutes of 1923, shall include all property a conveyance or mortgage of which is entitled to record as real property or interest therein under the laws of this state. The words "mortgage of real property" shall include every instrument by which a lien is created or imposed upon real property, notwithstanding that the debt secured thereby may also be secured by a lien upon personal property. An executory contract for the sale of real estate, or a bond for a deed, the complete performance of which is deferred for a longer period than ninety days from its execution, under which the grantee or vendee is entitled to the possession of such real estate, by the terms of which the grantor holds the legal title as security for the unpaid purchase money, shall for the purpose of this act be treated as a mortgage of real property to secure the balance of the unpaid purchase price.

History: L. 1925, ch. 273, § 1; Feb. 23.

CAUTION: Section was repealed effective January 1, 2019, see L. 2014, ch. 140, § 22.



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2017. Powered by KLISS. Rendered: 2017-11-25T13:56:38. Head Rev No: 339333