Alaska Statutes 09.45.680 – Mortgage not a conveyance
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Terms Used In Alaska Statutes 09.45.680
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- property: includes real and personal property. See Alaska Statutes 01.10.060
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
A mortgage of real property is not a conveyance that will enable the owner of the mortgage to recover possession of the real property without a foreclosure and sale.