25-1506. Order of sale of mortgaged premises; how stayed; length of stay.

The order of sale on all decrees for the sale of mortgaged premises shall be stayed for the period of nine months after the entry of such decree, whenever the defendant shall, within twenty days after the entry of such decree, file with the clerk of the court a written request for the same. If the defendant makes no such request within twenty days, the order of sale may issue immediately after the expiration thereof. As to any mortgage executed after September 28, 1959, if the original maturity of indebtedness secured by the mortgage is more than twenty years after the date of the filing of the complaint to foreclose the mortgage and the mortgage covered a lot or lots, or any part thereof, in a regularly platted subdivision, or parcel of residential property not exceeding three acres in area, the stay period shall be three months, and, as to such a mortgage executed after October 9, 1961, if such original maturity is more than ten years but not more than twenty years from and after the date of the filing of the foreclosure complaint, the stay period shall be six months.

Source:Laws 1875, § 2, p. 49; R.S.1913, § 8047; C.S.1922, § 8988; C.S.1929, § 20-1506; R.S.1943, § 25-1506; Laws 1959, c. 105, § 1, p. 432; Laws 1961, c. 112, § 1, p. 351; Laws 1999, LB 43, § 6; Laws 2002, LB 876, § 26.