Alaska Statutes 09.45.460 – Compensation for sale of estate for life or years
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Alaska Statutes 09.45.460
- Clerk of court: An officer appointed by the court to work with the chief judge in overseeing the court's administration, especially to assist in managing the flow of cases through the court and to maintain court records.
- person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
- property: includes real and personal property. See Alaska Statutes 01.10.060
A person entitled to an estate for life or years in an undivided part of the property, whose estate has been sold, is entitled to receive a sum as reasonable satisfaction for the estate, the sum being based on principles of law applicable to annuities. The person so entitled shall consent to accept the sum for the person’s estate by an instrument duly acknowledged or proved in the same manner as deeds for the purpose of record and filed with the clerk of court.