Alaska Statutes 34.08.830 – Transfer of unit in a cooperative
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Alaska Statutes 34.08.830
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
If a unit in a cooperative is owned by a unit owner or is sold, conveyed, voluntarily or involuntarily encumbered, or otherwise transferred by the unit owner, the interest in the unit that is owned, sold, conveyed, encumbered, or otherwise transferred is the right to possession of the unit under a proprietary lease, coupled with the allocated interests of the unit, and the association’s interest in the unit is not affected by the transfer.