Alaska Statutes
TITLE 34. PROPERTY
CHAPTER 34.08. COMMON INTEREST OWNERSHIP
ARTICLE 04. PROTECTION OF PURCHASERS
34.08.620. Conversion property.
(a) A declarant of a common interest community containing conversion property, and any deafler who intends to offer units in a common interest community containing conversion units, shall give each residential tenant and each residential subtenant in possession of a portion of conversion property notice of the conversion and provide each person with the public offering statement no later than 180 days before the tenant and any subtenant in possession are required to vacate. If the conversion property consists of a mobile home park, notice of the conversion and delivery of a public offering statement shall be provided no later than one year before the tenant and any subtenant in possession are required to vacate. The notice must set out generally the rights of tenants and subtenants under this section and shall be hand delivered to the tenant or subtenant in possession or mailed by certified mail, return receipt requested, to the tenant and subtenant at the address of the unit or any other mailing address provided by a tenant. The failure to give notice as required by this section is a defense to an action for possession and the terms of the tenancy may not be altered during the notice period provided by this subsection. A tenant or subtenant may not be required to vacate upon less than 180 days' notice and a tenant and a subtenant in possession in a mobile home park may not be required to vacate upon less than one year's notice except for one of the following reasons:(1) the tenant or subtenant has defaulted in the payment of rent owed;
(2) the tenant or subtenant has been convicted of violating a federal or state law or local ordinance, and that violation is continuing and is detrimental to the health, safety, or welfare of other dwellers or tenants in the mobile home park; and
(3) the tenant or subtenant has violated a provision, enforceable under AS 34.03.130, of the rental agreement or lease signed by both parties and not prohibited by law including rent and the terms of agreement.
(b) For 90 days after delivery or mailing of the notice described in (a) of this section, the person required to give the notice shall offer to convey each unit or proposed unit occupied for residential use to the tenant who leases or rents the unit. If a tenant fails to purchase the unit during the 90-day period, the offeror shall extend a right of first refusal to the tenant who is leasing or renting the unit at the time of the conversion. The offeror may not offer to dispose of an interest in the unit at a price or on terms more favorable to the offeree than the price or terms offered to the tenant while the tenant is in possession. The tenant must exercise the right of first refusal within 90 days from the receipt of the offer and must provide the offeror a valid letter of intent or a preliminary loan commitment from a bank or mortgage lending institution within 30 days of receipt of the offer. This subsection does not apply to a unit in conversion property if the unit will be restricted exclusively to nonresidential use or if the boundaries of the converted unit do not substantially conform to the dimensions of the residential unit before conversion.
(c) If a seller, in violation of (b) of this section, conveys a unit for value to a purchaser who has no knowledge of the violation, the recording of the deed conveying the unit or, in a cooperative, the conveyance of the unit, extinguishes any right a tenant may have under (b) of this section to purchase the unit if the deed states that the seller has complied with (b) of this section, but the conveyance does not affect the right of a tenant to recover damages from the seller for a violation of (b) of this section.
(d) If a notice of conversion specifies a date by which a unit or proposed unit must be vacated and otherwise complies with the provisions of AS 09.45.060 - 09.45.160, the notice also constitutes a notice to quit.
(e) Nothing in this section permits termination of a lease by a declarant in violation of its terms.
TITLE 34. PROPERTY
CHAPTER 34.15. CONVEYANCES
ARTICLE 01. FORM AND EFFECT
34.15.010. Manner of executing conveyances.
(a) A conveyance of land, or of an estate or interest in land, may be made by deed, signed and sealed by the person from whom the estate or interest is intended to pass, who is of lawful age, or by the lawful agent or attorney of the person, and acknowledged or proved, and recorded as directed in this chapter, without any other act or ceremony whatever.
(b) In a deed or conveyance of the family home or homestead by a married man or a married woman, the husband and wife shall join in the deed or conveyance.
(c) The requirement that a spouse of a married person join in a deed or conveyance of the family home or homestead does not create a proprietary right, title, or interest in the spouse not otherwise vested in the spouse.
(d) Failure of the spouse to join in the deed or conveyance does not affect the validity of the deed or conveyance, unless the spouse appears on the title. The deed or conveyance is sufficient in law to convey the legal title to the premises described in it from the grantor to the grantee when the deed or conveyance is otherwise sufficient, and(1) no suit is filed in a court of record in the judicial district in which the land is located within one year from the date of recording of the deed or conveyance by the spouse who failed to join in the deed or conveyance to have the deed or conveyance set aside, altered, changed, or reformed; or
(2) the spouse whose interest in the property is affected does not record, within one year in the office of the recorder for the recording district where the property is situated, a notice of an interest in the property.
TITLE 34. PROPERTY
CHAPTER 34.15. CONVEYANCES
ARTICLE 01. FORM AND EFFECT
34.15.030. Form of warranty deed.
(a) A warranty deed for the conveyance of land may be substantially in the following form, without express covenants: "The grantor (here insert the name or names and place of residence) for and in consideration of (here insert consideration) in hand paid, conveys and warrants to (here insert the grantee's name or names) the following described real estate (here insert description), located in the State of Alaska. Dated this .......... day of ......, 2......
(b) A deed substantially in the form set forth in (a) of this section, when otherwise duly executed, is considered a conveyance in fee simple to the grantee and the heirs and assigns of the grantee, with the following covenants by the grantor: (1) that at the time of the making and delivery of the deed the grantor is lawfully seized of an indefeasible estate in fee simple to the premises described, and has the right and power to convey the premises; (2) that at the time of making and delivery of the deed the premises are free from encumbrances; and (3) that the grantor warrants the quiet and peaceable possession of the premises, and will defend the title to the premises against all persons claiming the premises. The covenants are binding upon a grantor and the heirs and personal representative of a grantor as if written in the deed.
TITLE 34. PROPERTY
CHAPTER 34.15. CONVEYANCES
ARTICLE 01. FORM AND EFFECT
34.15.040. Form of quitclaim deed.
(a) A quitclaim deed may be substantially in the following form: "The grantor (here insert the name or names and place of residence), for and in consideration of (here insert consideration) conveys and quitclaims to (here insert grantee's name or names) all interest which I (we) have, if any, in the following described real estate (here insert description), located in the State of Alaska. Dated this ........ day of .........., 2......
(b) A deed substantially in the form set out in (a) of this section, when otherwise duly executed, is considered a sufficient conveyance, release and quitclaim to the grantee and the heirs and assigns of the grantee, in fee of all the existing legal and equitable rights of the grantor in the premises described in the deed.
TITLE 34. PROPERTY
CHAPTER 34.15. CONVEYANCES
ARTICLE 01. FORM AND EFFECT
34.15.050. Effect of quitclaim.
Effect of quitclaim. A deed of quitclaim and release for the form in common use is sufficient to pass all the real estate which the grantor can convey by a deed of bargain and sale.
TITLE 34. PROPERTY
CHAPTER 34.15. CONVEYANCES
ARTICLE 02. ACKNOWLEDGMENT AND PROOF
34.15.240. Penalty for refusal to appear or testify.
Penalty for refusal to appear or testify. A person served with a subpoena described in AS 34.15.230 who, without reasonable cause, refuses or neglects to appear, or upon appearing refuses to answer upon oath regarding the execution of a deed, shall forfeit to the injured party $100, and may also be committed to jail for a contempt by the officer who issues the subpoena, to remain in jail until the person submits to answer on oath as required.
TITLE 34. PROPERTY
CHAPTER 34.20. MORTGAGES AND TRUST DEEDS
ARTICLE 02. DEEDS OF TRUST
34.20.070. Sale by trustee.
(a) If a deed of trust is executed conveying real property located in the state to a trustee as security for the payment of an indebtedness and the deed provides that in case of default or noncompliance with the terms of the trust, the trustee may sell the property for condition broken, the trustee, in addition to the right of foreclosure and sale, may execute the trust by sale of the property, upon the conditions and in the manner set forth in the deed of trust, without first securing a decree of foreclosure and order of sale from the court, if the trustee has complied with the notice requirements of (b) of this section. If the deed of trust is foreclosed judicially or the note secured by the deed of trust is sued on and a judgment is obtained by the beneficiary, the beneficiary may not exercise the nonjudicial remedies described in this section.
(b) Not less than 30 days after the default and not less than three months before the sale the trustee shall record in the office of the recorder of the recording district in which the trust property is located a notice of default setting out (1) the name of the trustor, (2) the book and page where the trust deed is recorded or the serial number assigned to the trust deed by the recorder, (3) a description of the trust property, including the property's street address if there is a street address for the property, (4) a statement that a breach of the obligation for which the deed of trust is security has occurred, (5) the nature of the breach, (6) the sum owing on the obligation, (7) the election by the trustee to sell the property to satisfy the obligation, and (8) the date, time, and place of the sale. An inaccuracy in the street address may not be used to set aside a sale if the legal description is correct. At any time before the sale, if the default has arisen by failure to make payments required by the trust deed, the default may be cured by payment of the sum in default other than the principal that would not then be due if no default had occurred, plus attorney fees or court costs actually incurred by the trustee due to the default. If, under the same trust deed, notice of default under this subsection has been recorded two or more times previously and the default has been cured under this subsection, the trustee may elect to refuse payment and continue the sale.
(c) Within 10 days after recording the notice of default, the trustee shall mail a copy of the notice by certified mail to the last known address of each of the following persons or their legal representatives: (1) the grantor in the trust deed; (2) the successor in interest to the grantor whose interest appears of record or of whose interest the trustee or the beneficiary has actual notice, or who is in possession of the property; (3) any other person in possession of or occupying the property; (4) any person having a lien or interest subsequent to the interest of the trustee in the trust deed, where the lien or interest appears of record or where the trustee or the beneficiary has actual notice of the lien or interest. The notice may be delivered personally instead of by mail.
(d) If the State of Alaska is a subsequent party, the trustee, in addition to the notice of default, shall give the state a supplemental notice of any state lien existing as of the date of filing the notice of default. This notice must set out, with such particularity as reasonably available information will permit, the nature of the state's lien, including the name and address, if known, of the person whose liability created the lien, the amount shown on the lien document, the department of the state government involved, the recording district, and the book and page on which the lien was recorded or the serial number assigned to the lien by the recorder.
TITLE 34. PROPERTY
CHAPTER 34.20. MORTGAGES AND TRUST DEEDS
ARTICLE 02. DEEDS OF TRUST
34.20.080. Sale at public auction.
(a) The sale authorized in AS 34.20.070 shall be made under the terms and conditions and in the manner set out in the deed of trust. However, the sale shall be made(1) at public auction held at the front door of a courthouse of the superior court in the judicial district where the property is located, unless the deed of trust specifically provides that the sale shall be held in a different place; and
(2) after public notice of the time and place of the sale has been given in the manner provided by law for the sale of real property on execution.
(b) The attorney for the trustee may conduct the sale and act in the sale as the auctioneer for the trustee. Sale shall be made to the highest and best bidder. The beneficiary under the trust deed may bid at the trustee's sale. The trustee shall execute and deliver to the purchaser a deed to the property sold.
(c) The deed must recite the date and the book and page of the recording of default, and the mailing or delivery of the copies of the notice of default, the true consideration for the conveyance, the time and place of the publication of notice of sale, and the time, place, and manner of sale, and refer to the deed of trust by reference to the page, volume, and place of record or to the place of record and the serial number assigned to the deed of trust by the recorder.
(d) After the sale an affidavit of mailing the notice of default and an affidavit of publication of the notice of sale shall be recorded in the mortgage records of the recording district where the property is located.
(e) The trustee may postpone sale of all or any portion of the property by delivering to the person conducting the sale a written and signed request for the postponement to a stated date and hour. The person conducting the sale shall publicly announce the postponement to the stated date and hour at the time and place originally fixed for the sale. This procedure shall be followed in any succeeding postponement.
TITLE 34. PROPERTY
CHAPTER 34.20. MORTGAGES AND TRUST DEEDS
ARTICLE 02. DEEDS OF TRUST
34.20.090. Title, interest, possessory rights, and redemption.
(a) The sale and conveyance transfers all title and interest that the party executing the deed of trust had in the property sold at the time of its execution, together with all title and interest that party may have acquired before the sale, and the party executing the deed of trust or the heirs or assigns of that party have no right or privilege to redeem the property, unless the deed of trust so declares.
(b) The purchaser at a sale and the heirs and assigns of the purchaser are, after the execution of a deed to the purchaser by the trustee, entitled to the possession of the premises described in the deed as against the party executing the deed of trust or any other person claiming by, through or under that party, after recording the deed of trust in the recording district where the property is located.
(c) A recital of compliance with all requirements of law regarding the mailing or personal delivery of copies of notices of default in the deed executed under a power of sale is prima facie evidence of compliance with the requirements. The recital is conclusive evidence of compliance with the requirements in favor of a bona fide purchaser or encumbrancer for value and without notice.
TITLE 34. PROPERTY
CHAPTER 34.20. MORTGAGES AND TRUST DEEDS
ARTICLE 02. DEEDS OF TRUST
34.20.100. Deficiency judgment prohibited.
When a sale is made by a trustee under a deed of trust, as authorized by AS 34.20.070 - 34.20.130, no other or further action or proceeding may be taken nor judgment entered against the maker or the surety or guarantor of the maker, on the obligation secured by the deed of trust for a deficiency.
TITLE 34. PROPERTY
CHAPTER 34.20. MORTGAGES AND TRUST DEEDS
ARTICLE 02. DEEDS OF TRUST
34.20.110. Trust deeds recorded as mortgages.
For the purposes of record, a deed of trust, given to secure an indebtedness, shall be treated as a mortgage of real estate, and recorded in full in the book provided for mortgages of real property. The person who makes or executes the deed of trust shall be indexed as mortgagor, and the trustee and the beneficiary or cestui que trust, as the mortgagees.
TITLE 34. PROPERTY
CHAPTER 34.20. MORTGAGES AND TRUST DEEDS
ARTICLE 02. DEEDS OF TRUST
34.20.115. Procedure for reconveyance.
(a) Unless the beneficiary has requested that a title insurance company reconvey a trust deed before the title insurance company mails or delivers the notice under (b) of this section, a title insurance company shall comply with the requirements of this section before reconveying the trust deed.
(b) Not less than 30 days after payment in full of the obligation secured by a trust deed and receipt of satisfactory evidence of payment in full, a title insurance company shall(1) mail, by certified mail with postage prepaid, return receipt requested, to the beneficiary and the servicer, a notice of intent to reconvey; the notice shall be sent to the beneficiary's address and the servicer's address(A) stated in the trust deed;
(B) stated in the last recorded assignment of the trust deed, if any;
(C) shown in a request for notice recorded under (g) of this section; and
(D) if any, personally known to the title insurance company; or
(2) hand deliver to the beneficiary and to the servicer a notice of intent to reconvey.
(c) The notice required by (b) of this section must be in substantially the following form and accompanied by a copy of the reconveyance to be recorded:
NOTICE OF INTENT TO RECONVEY
TO: (Beneficiary or servicer for beneficiary)
FROM: (Title insurance company)
DATE: __________
Notice is hereby given to you as follows:
(1) This notice concerns the trust deed described as follows:
Trustor: ____________________________
Beneficiary: ________________________
Recording information for the trust deed:
Serial number: __________
or
Book number: __________
Page number: __________
Recording information for current assignment of trust deed:
Serial number: __________
or
Book number: __________
Page number: __________
(2) The undersigned title insurance company claims to have fully paid or received satisfactory evidence of the payment in full of the obligation secured by the trust deed described above.
(3) Unless, within 90 days following the date stated above, the undersigned has received, by certified mail, return receipt requested, directed to the address noted below, a notice stating that you have not received payment in full of all obligations secured by the trust deed or that you otherwise object to reconveyance of the trust deed, the undersigned will fully release and reconvey the trust deed under AS 34.20.115.
(4) A copy of the reconveyance or release of the trust deed is enclosed with this notice.
(Title insurance company)
(Address)
(Telephone number)
(d) After at least 90 days have elapsed after the mailing or delivery of the notice of intent to reconvey under (b) of this section, if a title insurance company has not received an objection to the reconveyance, the title insurance company may execute and record a reconveyance of the trust deed.
(e) The reconveyance authorized by (d) of this section must be acknowledged under AS 09.63 and be in substantially the following form:
RECONVEYANCE OF TRUST DEED
________________________, a title insurance company authorized to
transact business in Alaska, does, by this document, reconvey, without
warranty, to the person or persons legally entitled to the trust property,
the following trust property covered by a trust deed naming ______________
as trustor and __________ as beneficiary, which was recorded on __________
at serial number __________ or at book _________ and page __________:
The following described property located in the _____________ Judicial District, State of Alaska:
(Property description)
The undersigned title insurance company certifies that
(1) the undersigned title insurance company has fully paid or received satisfactory evidence of the payment in full of the obligation secured by the trust deed;
(2) not less than 30 days following the payment in full of the trust deed, the undersigned hand delivered or mailed by certified mail, return receipt requested, to the record beneficiary under the trust deed and the servicer for the record beneficiary, at the beneficiary's and servicer's record addresses, and to any address personally known to this title insurance company, a notice of intent to reconvey as required by AS 34.20.115; and
(3) at least 90 days have elapsed after the mailing or delivery of the notice of intent to reconvey, and the undersigned title insurance company has not received an objection to the reconveyance.
Dated ________________________
______________________________
(Title insurance company)
(Acknowledgment)
(f) A reconveyance of a trust deed, when executed and acknowledged in substantially the form prescribed in (e) of this section, may be recorded and, when recorded, constitutes a reconveyance of the trust deed identified in the reconveyance, regardless of any deficiency in the reconveyance procedure that is not disclosed in the recorded reconveyance, except for forgery of the title insurance company's signature. The reconveyance of a trust deed under this section does not discharge a personal obligation that was secured by the trust deed at the time of its reconveyance.
(g) A person who wants to receive a copy of a notice given under (b) of this section after the deed of trust is recorded and before the reconveyance is recorded under (d) of this section may record a request for a copy of the notice in the office of the recorder in the judicial district in which a part of the real property is located. The request must be acknowledged, must state the name and address of the person requesting the copy of the notice, and must identify the deed of trust by stating the names of the parties to the deed of trust, the date of recordation, and the serial number or book and page numbers where the deed of trust is recorded.
(h) If, at any point during the procedure required by this section, the beneficiary requests the title insurance company to reconvey the trust deed, the title insurance company is not required to proceed with the rest of the procedure required by this section and may execute and record a reconveyance of the trust deed.
(i) Except as provided in (a) and (h) of this section, if a title insurance company reconveys a trust deed without having satisfactory evidence of payment in full required under (b) of this section or without providing the prior notice to the beneficiary and the servicer as required under this section, the title insurance company is liable to the beneficiary and to the heirs, successors in interest, representatives, and assigns of the beneficiary for all damages occasioned by the neglect or the wilful act, and the title insurance company is liable to the state for a penalty of $300.
(j) In this section,(1) "beneficiary" means both the record owner of the beneficiary's interest under a trust deed and a successor in interest;
(2) "satisfactory evidence of payment in full," with regard to an obligation secured by a trust deed or an encumbrance on the property covered by the trust deed, means a payoff letter, or, along with reasonable documentary evidence that the check was intended to effect full payment,(A) the original cancelled check; or
(B) a copy, including a voucher copy, of a check, payable to the beneficiary or a servicer;
(3) "servicer" means a person who handles, for a beneficiary of a trust deed, the receipt of the beneficiary's payments under the trust deed;
(4) "title insurance company" means a title insurance company or a title insurance limited producer; in this paragraph, "title insurance company" and "title insurance limited producer" have the meanings given in AS 21.66.480.
TITLE 34. PROPERTY
CHAPTER 34.20. MORTGAGES AND TRUST DEEDS
ARTICLE 02. DEEDS OF TRUST
34.20.120. Substitution of trustee.
(a) The trustee under a trust deed upon real property given to secure an obligation to pay money and conferring no duties upon the trustee other than the duties that are incidental to the exercise of the power of sale conferred in the deed may be substituted by recording in the mortgage records of the recording district in which the property is located a substitution executed and acknowledged by all the beneficiaries under the trust deed, or their successors in interest.
(b) The substitution must contain(1) the date of execution of the trust deed;
(2) the names of the trustee, trustor, and beneficiary;
(3) the book and page where the trust deed is recorded or the serial number assigned to the trust deed by the recorder;
(4) the name of the new trustee; and
(5) an acknowledgment signed and acknowledged by the trustee named in the trust deed of a receipt of a copy of the substitution, or an affidavit of service of a copy of it.
(c) From the time the substitution is filed for record, the new trustee succeeds to all the powers, duties, authority, and title of the trustee named in the deed of trust.
(d) When a title insurance company authorized to do business by a certificate of authority granted under AS 21.66 has been purchased by, merged into, or consolidated with, or has transferred all or substantially all of its business assets to, another authorized title insurance company, the surviving or successor company, by operation of law, succeeds to the duties of the predecessor company granted to that predecessor as trustee in any trust deed described in (a) of this section.
TITLE 34. PROPERTY
CHAPTER 34.20. MORTGAGES AND TRUST DEEDS
ARTICLE 02. DEEDS OF TRUST
34.20.130. Recording assignment, subordination, or waiver.
(a) The following instruments may be recorded:(1) an assignment of the beneficial interest under a deed of trust; or
(2) an instrument by which a deed of trust of real property is subordinated or waived as to priority.
(b) From the time it is filed for record, the instrument operates as constructive notice to all persons.
TITLE 34. PROPERTY
CHAPTER 34.20. MORTGAGES AND TRUST DEEDS
ARTICLE 03. MISCELLANEOUS PROVISIONS
34.20.160. Notice of other remedies.
(a) When a lender uses a note as evidence of an obligation secured by a mortgage or deed of trust, the note must affirmatively advise the mortgagor or trustor and any other party bound by the note if the mortgagee or beneficiary wants the option to bring suit directly on the note to collect an amount owing under the note without first foreclosing the mortgage or deed of trust. This option must be stated in writing within the note or as a separate document. If a note executed after May 24, 1988 fails to contain the notice specified in this section, the debt secured by the mortgage or deed of trust may be foreclosed under AS 09.45.170 - 09.45.220 or AS 34.20.070 - 34.20.135.
(b) If the mortgagee or beneficiary wishes to collect an amount owing under the note without first foreclosing the mortgage or deed of trust, the following language is sufficient in the note: The mortgagor or trustor (borrower) is personally obligated and fully liable for the amount due under the note. The mortgagee or beneficiary (lender) has the right to sue on the note and obtain a personal judgment against the mortgagor or trustor for satisfaction of the amount due under the note either before or after a judicial foreclosure of the mortgage or deed of trust under AS 09.45.170 - 09.45.220.
TITLE 34. PROPERTY
CHAPTER 34.25. VALIDATION OF FORMAL DEFECTS
34.25.040. Deeds on judicial sales.
(a) A judicial sale of real property is valid and sufficient in law to sustain a deed based on the sale when(1) the sale is heretofore or hereafter made in the state on execution to satisfy a judgment, order, or decree of a court in the state or is made under an order or decree of a court in the state;
(2) the money bid on the property is paid to the officer making the sale, or to the officer's successor; and
(3) the sale is confirmed or acquiesced in by the court from which the execution issued or where the order or decree was entered.
(b) When no deed has been executed, a judicial sale that satisfies the conditions of (a) of this section entitles a purchaser at the sale to a deed.
(c) The deed, when executed and delivered, is sufficient to convey all the title of the judgment debtor or other person affected by the order or decree in the premises sold to the purchaser at the sale.
(d) All defects and irregularities in the proceedings or suit in which execution issues or in which the order or decree is entered, in the issuance of the execution, in obtaining the order or decree of the court, or in the manner of making or conducting the sale shall be disregarded if no suit is filed in a court of record in the judicial district where the real property affected by the deed is located within 10 years from the date of the deed, to have the deed set aside, altered, or otherwise changed or reformed.
34.25.050. Sale and deed of executor, administrator, and guardian validated.
(a) A sale of real property heretofore or hereafter made by an executor, administrator, or guardian is sufficient to sustain an executor's, administrator's, or guardian's deed to the purchaser for the real property when(1) made of the decedent's, ward's, or incompetent person's real property in the state to a purchaser for a valuable consideration;
(2) the consideration is paid by the purchaser to the executor, administrator, or guardian, or the successor of the executor, administrator, or guardian, in good faith; and
(3) the sale is not set aside by the court, but is confirmed or acquiesced in by the court.(b) If the deed is not given, a sale that satisfies the conditions of (a) of this section entitles the purchaser to the deed.
(c) The deed is sufficient to convey to the purchaser all the title that the decedent, ward, or incompetent had in the real property.
(d) All defects or irregularities in estate or court proceedings, in obtaining the order of the court for the sale, and in the making or conducting of the sale by the executor, administrator, or guardian shall be disregarded if no suit is filed in a court of record in the judicial district in which the real property affected by the deed is located within 10 years from the date of the deed, to have the deed set aside, altered or otherwise changed, or reformed.
TITLE 34. PROPERTY
CHAPTER 34.25. VALIDATION OF FORMAL DEFECTS
34.25.060. Record of the deed as evidence.
When the deed is executed and recorded in the deed records in the proper recording district, the record, certified by the recorder, is evidence in all courts, and has the same effect as the original.
TITLE 34. PROPERTY
CHAPTER 34.25. VALIDATION OF FORMAL DEFECTS
34.25.070. Validation of sales and action to quiet title.
(a) A sale of real estate by an administrator or executor is confirmed and approved, notwithstanding irregularities or informalities in the proceedings before the sale, when(1) the real estate is heretofore or hereafter sold under a license or order of a superior court in the state;
(2) the purchaser pays the purchase money for the real estate;
(3) the sale is made in good faith, in order to provide for payment of the claims against the estate;
(4) the executor or administrator fails or neglects to make or execute a deed conveying the real estate to the purchaser, or if from mistake or omission in the deed or defect in its execution the deed is inoperative; and
(5) five years have elapsed after the making of the sale.
(b) When these facts are shown in an action to quiet title to the real property against the heirs or their assignees of the deceased person whose property is sold, in the proper court for the suit, the court shall make its decree quieting title and compelling and ordering conveyances of the real estate to the purchaser or the heirs or assignees of the purchaser as if a valid contract to convey the real property were made by the deceased while living.
(c) An action may not be maintained by the heirs of the deceased, or their heirs or assignees, to dispossess the purchaser or the heirs or assignees of the purchaser, after the expiration of five years from the sale.
TITLE 38. PUBLIC LAND
CHAPTER 38.50. EXCHANGE OF STATE LAND
38.50.150. Execution of exchange.
If a deed, contract of exchange, or other instrument of conveyance which the director receives to effectuate an exchange is properly executed, acknowledged, and authorized by the appropriate party, the director shall accept conveyance of title to the land and other property which the state is to receive as consideration, and shall issue a patent, contract of exchange, or other instrument of conveyance to the appropriate party for the property which the director is then obligated to convey. Before acceptance by the director of a deed, contract of exchange, or other instrument, no action taken by the director or by any other state official creates a right against the state with respect to state land.
TITLE 34. PROPERTY
CHAPTER 34.70. DISCLOSURES IN RESIDENTIAL REAL PROPERTY TRANSFERS
34.70.010. Disclosures in residential real property transfers.
Before the transferee of an interest in residential real property makes a written offer, the transferor shall deliver by mail or in person a completed written disclosure statement in the form established under AS 34.70.050. Delivery to the spouse of the transferee constitutes delivery to the transferee unless the transferor and the transferee agree otherwise before the delivery.
TITLE 34. PROPERTY
CHAPTER 34.70. DISCLOSURES IN RESIDENTIAL REAL PROPERTY TRANSFERS
34.70.110. Waiver by agreement.
This chapter does not apply to the transfer of an interest in residential real property if the transferor and transferee agree in writing that the transfer will not be covered under this chapter.
Alaska Case Law
The court ruled in Curry v. Tucker, 616 P.2d 8 that generally equity abhors forfeiture; “When the principles of equity and justice so require, we may refuse to enforce even an express forfeiture provision in a land sale contract.” “where adequate compensation can be made, equity will discharge the forfeiture upon such compensation being made.”
The court ruled in Stack v. Miller, 645 P.2d 184 that the court may refuse to order immediate imposition of a judgment when it has the net effect of a strict forfeiture.
Agreement or Contract for Deed for Sale and...
