(a) If an individual and another own property in this state as tenants in common or tenants by the entirety, a creditor of the individual, subject to the individual’s right to claim an exemption under this chapter, may obtain a levy on and sale of the interest of the individual in the property. A creditor who has obtained a levy, or a purchaser who has purchased the individual’s interest at the sale, may have the property partitioned or the individual’s interest severed.

Terms Used In Alaska Statutes 09.38.100

  • creditor: includes the state on behalf of a victim of a crime or a delinquent act. See Alaska Statutes 09.38.500
  • debt: means a legally enforceable monetary obligation or liability of an individual, whether arising out of contract, tort, or otherwise. See Alaska Statutes 09.38.500
  • exempt: means protected, and "exemption" means protection, from subjection to process or a proceeding to collect an unsecured debt. See Alaska Statutes 09.38.500
  • levy: means the seizure of property under a writ of attachment, garnishment, execution, or any similar legal or equitable process issued for the purpose of collecting an unsecured debt. See Alaska Statutes 09.38.500
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • property: includes real and personal property. See Alaska Statutes 01.10.060
  • state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
(b) A partner’s right in specific partnership property is exempt except on a claim against the partnership. If partnership property is attached for a partnership debt, the partners or any of them or the representatives of a deceased partner may not claim an exemption for that property under this chapter.
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