Alaska Statutes 34.40.050 – Conveyance in exercise of power to revoke and reconvey
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Alaska Statutes 34.40.050
- conveyance: as used in this chapter , shall be construed to embrace every instrument in writing except a last will and testament, of whatever form and by whatever name it may be known in law, by which an estate or interest in land is created, aliened, assigned, or surrendered. See Alaska Statutes 34.40.130
- Grantor: The person who establishes a trust and places property into it.
- land: as used in this chapter shall be construed as coextensive in meaning with "lands, tenements, and hereditaments" and the term "estate and interest in land" shall be construed to embrace every interest, freehold, and chattel, legal and equitable, present and future, vested and contingent in land as defined in this section. See Alaska Statutes 34.40.120
- 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
Where a power to revoke a conveyance of land, or the rents and profits from it, and to reconvey the land or the rents and profits is given to a person other than the grantor in the conveyance, and the person subsequently conveys the land, rents, or profits to a purchaser for a valuable consideration, the subsequent conveyance is valid in the same manner and to the same extent as if the power of revocation were recited in it and the intent to revoke the former conveyance expressly declared.