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Nebraska HOA Reserve Studies

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Nebraska · Reserve Studies

Nebraska HOA Reserve Studies

Reserve study factor Nebraska treatment
1. Statutory reserve study required Limited. Nebraska sets no recurring, interval-based reserve-study mandate. One narrow rule applies: when a condominium project tops 15 units (not counting common area), its recorded declaration must carry a professionally prepared preventive-maintenance plan that includes depreciation studies and reserve analyses. Neb. Rev. Stat. § 76-842(a)(10).1
2. Communities covered Condominiums created on or after January 1, 1984 under the Nebraska Condominium Act; the § 76-842(a)(10) reserve-analysis requirement reaches only projects over 15 units.2 Pre-1984 condominiums under the Condominium Property Act, and non-condominium HOAs, fall outside it.3
3. Initial study deadline For condominiums over 15 units, the reserve analysis must sit in the declaration when it is recorded to create the condominium. No other statutory deadline exists.1
4. Study update interval No statute sets a recurring full-study interval. The § 76-842(a)(10) declaration plan must itself include "an annually updated five-year capital plan."1
5. On-site / physical inspection interval No statutory provision identified.
6. Preparer qualification For the § 76-842(a)(10) plan, a licensed engineer or architect. No qualification standard applies otherwise.1
7. Reserve funding required No statute sets a mandatory funding level. For condominiums over 15 units, the declaration must set "minimum financial reserves based on the reserve analyses," § 76-842(a)(10); otherwise the recorded declaration and the board's fiduciary duty set reserve funding.1
8. Funding standard No statute sets a percentage-funded or dollar threshold. The Act treats reserves as a permitted budget category, § 76-860(a)(2), and as part of "common expenses," § 76-827(5).4
9. Component / useful-life scope No general statutory scope. The § 76-842(a)(10) plan covers preventive maintenance of "the condominium and all common elements" through depreciation studies and reserve analyses; otherwise the declaration sets the scope.1
10. Annual member disclosure The executive board must give every unit owner a budget summary within 30 days of adoption and hold a ratification meeting, § 76-861(c); financial records must stay open for owner examination, § 76-876.5
11. Resale / buyer disclosure The resale certificate must furnish the most recent balance sheet and income-and-expense statement (if any), the current operating budget (if any), the monthly common-expense assessment, unpaid assessments and fees, insurance availability, leasehold term, and pending litigation, § 76-884. It requires no separate reserve-study disclosure.6
12. Reserve account protections No statute generally requires segregating reserves. Purchaser escrow deposits—up to six months of assessments—must be held beyond the reach of association creditors, § 76-874.01;7 surplus-funds rules appear at § 76-872.8
13. Waiver or underfunding mechanism No statute provides a reserve-waiver vote. The Act bars waiver of the rights it confers except as expressly allowed, § 76-828; otherwise the declaration and budget set funding levels.9
14. Enforcement / penalty No administrative penalty applies. A person whom a violation of the Act, declaration, or bylaws adversely affects may bring a private claim for relief, with discretionary costs and attorney fees, § 76-891.01;10 associations enforce assessment liens under § 76-874.11
15. Primary statutory citation(s) Neb. Rev. Stat. §§ 76-825 to 76-894 (Nebraska Condominium Act), especially §§ 76-842(a)(10), 76-860, 76-861, 76-873, and 76-884; §§ 76-801 to 76-823 (Condominium Property Act, pre-1984).12

Section 1: Overview — Reserve study requirements in Nebraska

Nebraska imposes no recurring, interval-based reserve-study or reserve-funding mandate of the kind California or Florida enforce. Its single statutory reserve requirement is narrow, and it operates when someone drafts the declaration rather than as an ongoing duty. The Nebraska Condominium Act, Neb. Rev. Stat. § 76-825 et seq., follows the 1980 Uniform Condominium Act and governs condominiums created on or after January 1, 1984.12

Within that Act, § 76-842(a)(10) requires the recorded declaration of a condominium project with more than 15 units to carry a preventive-maintenance plan—prepared by a licensed engineer or architect—that includes depreciation studies, reserve analyses, an annually updated five-year capital plan, and minimum financial reserves based on those analyses.1 Beyond that drafting requirement, the recorded declaration and the board's fiduciary duty govern reserves, with a resale-disclosure touchpoint at § 76-884.6 Condominiums created before January 1, 1984 stay under the older Condominium Property Act, Neb. Rev. Stat. § 76-801 et seq., which carries no reserve-analysis requirement.3

Nebraska has no comprehensive planned-community statute, so the recorded covenants, the Nebraska Nonprofit Corporation Act, and common-law principles govern non-condominium homeowners associations.13 Nationally, this places Nebraska close to the no-mandate group, set apart only by its limited declaration-content rule for larger condominiums. The sections below lay out the statutory framework, the compliance obligations by community type, and recent legislative and judicial activity.

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Footnotes

  1. Neb. Rev. Stat. § 76-842 (declaration; contents; subsec. (a)(10)) (Laws 1983, LB 433, § 18; Laws 2013, LB 442, § 3; Laws 2020, LB 808, § 41) ↩
  2. Neb. Rev. Stat. § 76-826 (applicability; pre-1984 condominiums) ↩
  3. Neb. Rev. Stat. § 76-801 (Condominium Property Act, how cited) ↩
  4. Neb. Rev. Stat. § 76-860 (unit owners' association; powers; budgets for reserves) ↩
  5. Neb. Rev. Stat. § 76-861 (executive board; ordinary and reasonable care; budget ratification) ↩
  6. Neb. Rev. Stat. § 76-884 (resale of unit; information required) ↩
  7. Neb. Rev. Stat. § 76-874.01 (payments to escrow account; use) ↩
  8. Neb. Rev. Stat. § 76-872 (surplus funds; distribution) ↩
  9. Neb. Rev. Stat. § 76-828 (variance, evasion, and waiver prohibited) ↩
  10. Neb. Rev. Stat. § 76-891.01 (effect of violations on rights of action; attorney's fees) ↩
  11. Neb. Rev. Stat. § 76-874 (lien for assessments) ↩
  12. Neb. Rev. Stat. § 76-825 (Nebraska Condominium Act, how cited) ↩
  13. Neb. Rev. Stat. ch. 21 (Nebraska Nonprofit Corporation Act) ↩
  14. Neb. Rev. Stat. § 76-827 (terms defined; common expenses include allocations to reserves) ↩
  15. Neb. Rev. Stat. § 76-873 (assessment for common expenses; annual budget) ↩
  16. Neb. Rev. Stat. § 76-880 (public-offering statement; general provisions) ↩
  17. Neb. Rev. Stat. § 76-876 (association records) ↩
  18. McGill Restoration, Inc. v. Lion Place Condominium Ass'n, 313 Neb. 658 (2023) ↩
  19. Nebraska Judicial Branch, Court of Appeals (appellate structure and routing) ↩
  20. Nebraska Legislature, Bill Search, 109th Legislature (2025-2026) ↩
  21. Cal. Civ. Code § 5550 (reserve study requirements), shown as a mandate-state contrast to Nebraska ↩
  22. Fla. Stat. § 718.112(2)(g) (structural integrity reserve study; enacted via SB 4-D, 2022; amended by SB 154, 2023) ↩
  23. 2022 Md. Laws, H.B. 107 (reserve study requirements for condominiums, cooperatives, and homeowners associations) ↩
  24. Colo. Rev. Stat. § 38-33.3-209.5 (CCIOA reserve-study policy and disclosure); Colorado Division of Real Estate, HOA FAQ ↩
  25. Fannie Mae Lender Letter LL-2026-03 (March 18, 2026) (raising the minimum reserve-funding requirement to 15 percent of budgeted annual income for loan applications dated on or after January 4, 2027); see also Freddie Mac Bulletin 2026-6 (May 6, 2026) ↩

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