(a) The date of maturity of an instrument creating a lien upon real property is considered to be 10 years from the date of the instrument, unless

contract signature

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Terms Used In Alaska Statutes 34.20.150

  • 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
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(1) the period of the instrument is disclosed by the terms of the instrument; or
(2) another instrument extending the period of the first instrument or a memorandum of payment of the first instrument is recorded.
(b) When an existing recorded instrument is recorded before March 26, 1955, which creates a lien upon real property but which does not disclose the period of the instrument, another instrument extending the period of the first instrument, or a memorandum of payment of the first instrument may be recorded before January 1, 1956.
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