Alaska Statutes 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 against subsequent purchasers, optionees, mortgagees, creditors, or persons acquiring a lien upon the real estate, unless
Terms Used In Alaska Statutes 34.20.140
- action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
- Contract: A legal written agreement that becomes binding when signed.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Lien: A claim against real or personal property in satisfaction of a debt.
- property: includes real and personal property. See Alaska Statutes 01.10.060