Title 34 — Property
24 chapters · 562 sections in this title.
AS 34.20.010 Recording assignment of mortgage.
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The recording of the assignment of a mortgage is not in itself considered notice of the assignment to the mortgagor or the heirs or personal representatives of the mortgagor, so as to invalidate a payment made by one or more of them to the mortgagee.
AS 34.20.020 Discharge of mortgage by entry in margin of record. [Repealed, § 43 ch 161 SLA 1988.]
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[Repealed or reserved.]
AS 34.20.030 Recording of discharge upon certificate of mortgagee.
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A mortgage may be discharged upon the record of the mortgage by the recorder who has custody of the record when there is presented to the recorder a certificate executed by the mortgagee or the personal representatives or assigns of the mortgagee, acknowledged or proved and certi…
AS 34.20.040 Recording certificate.
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A certificate of discharge provided for in AS 34.20.030 and the proof or acknowledgment of the certificate shall be recorded at full length. A reference shall be made to the book and page containing the record of the certificate or the serial number of the record of the certifica…
AS 34.20.050 Penalty for failure to discharge mortgage or execute certificate.
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If a mortgagee, or personal representatives, successors in interest or assigns of the mortgagee, after full performance of the condition of the mortgage, whether before or after a breach, for 10 days after being so requested in writing, and after tender of the reasonable charges,…
AS 34.20.060 Definition.
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Article 2. Deeds of Trust. In AS 34.20.010 — 34.20.060, “conveyance” includes every instrument in writing by which an estate or interest in real property is created, alienated, mortgaged, or encumbered, or by which the title to real property is affected, except a will.
AS 34.20.070 Sale by trustee.
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(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 …
AS 34.20.080 Sale at public auction.
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(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. The proceeds from a sale shall be placed in a trust account until they are disbursed. However, the sale shall be made (1) at public auction held at…
AS 34.20.090 Title, interest, possessory rights, and redemption.
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(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 tr…
AS 34.20.100 Deficiency judgment prohibited.
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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 …
AS 34.20.110 Trust deeds recorded as mortgages.
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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…
AS 34.20.115 Procedure for reconveyance.
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(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…
AS 34.20.120 Substitution of trustee.
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(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 m…
AS 34.20.125 Trustee bond required.
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(a) Before performing the duties of a trustee under AS 34.20.070 and 34.20.080, a person shall obtain a surety bond in the amount of $100,000 to protect the trustors and beneficiaries of trust deeds against fraud or defalcation by the trustee in the performance of the duties. (b)…
AS 34.20.130 Recording assignment, subordination, or waiver.
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(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 ope…
AS 34.20.135 Definition.
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Article 3. Miscellaneous Provisions. In AS 34.20.070 — 34.20.130, “real property” or “property” includes an interest in real property.
AS 34.20.140 Recording memorandum extending lien.
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Where the payment of an existing contract (a bill of exchange, promissory note, bond, or other evidence of indebtedness) is secured by an instrument creating a lien upon real estate, payment on the contract does not extend the lien beyond its original or extended period as agains…
AS 34.20.150 Maturity of lien.
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(a) The date of maturity of an instrument creating a lien upon real property is considered to be 10 years from the date of the instrument, unless (1) the period of the instrument is disclosed by the terms of the instrument; or (2) another instrument extending the period of the fi…
AS 34.20.160 Notice of other remedies.
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(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…