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PSB CREDIT SERVICES, INC. v. RICH

No. A-95-1130.

552 N.W.2d 58 (1996)

4 Neb. App. 860

PSB CREDIT SERVICES, INC., a Minnesota Corporation, Appellant, v. Barry RICH and Carol Rich, his wife, et al., Appellees.

Court of Appeals of Nebraska.

July 23, 1996.

Attorney(s) appearing for the Case

Michael G. Lessmann and Bruce R. Gerhardt, of Baird, Holm, McEachen, Pedersen, Hamann & Strasheim, Omaha, for appellant.

Donald E. Girard, of Girard and Stack, P.C., North Platte, for appellees.

HANNON, SIEVERS, and MUES, JJ.

SIEVERS, Judge.

This appeal raises the first impression issue of whether the time for commencement of an action to foreclose on real property under a deed of trust is governed by the 5-year statute of limitations under Neb.Rev. Stat. § 76-1015 (Reissue 1990) or by the 10-year statute of limitations under Neb.Rev. Stat. § 25-202 (Reissue 1995).

FACTUAL BACKGROUND

On May 25, 1984, Helen M. Elander executed and delivered to American Security...

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