(a) “Accessions” means goods when they are installed in or affixed to other goods.

Terms Used In Alaska Statutes 45.12.310

  • buyer in ordinary course of business: means a person who, in good faith and without knowledge that the sale to that person is in violation of the ownership rights or security interest or leasehold interest of a third party in the goods, buys in ordinary course from a person in the business of selling goods of that kind, but does not include a pawnbroker. See Alaska Statutes 45.12.103
  • Contract: A legal written agreement that becomes binding when signed.
  • goods: means all things that are movable at the time of identification to the lease contract, or are fixtures under Alaska Stat. See Alaska Statutes 45.12.103
  • lease: means a transfer of the right to possession and use of goods for a term in return for consideration, but a sale, including a sale on approval or a sale or return, or retention or creation of a security interest is not a lease. See Alaska Statutes 45.12.103
  • 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
  • lease contract: means the total legal obligation that results from the lease agreement as affected by this chapter and other applicable rules of law. See Alaska Statutes 45.12.103
  • lessee: means a person who acquires the right to possession and use of goods under a lease. See Alaska Statutes 45.12.103
  • lessee in ordinary course of business: means a person who, in good faith and without knowledge that the lease to that person is in violation of the ownership rights or security interest or leasehold interest of a third party in the goods, leases in ordinary course from a person in the business of selling or leasing goods of that kind, but does not include a pawnbroker. See Alaska Statutes 45.12.103
  • lessor: means a person who transfers the right to possession and use of goods under a lease. See Alaska Statutes 45.12.103
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • 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
  • writing: includes printing. See Alaska Statutes 01.10.060
(b) The interest of a lessor or a lessee under a lease contract entered into before the goods became accessions is superior to all interests in the whole except as stated in (d) of this section.
(c) The interest of a lessor or a lessee under a lease contract entered into at the time or after the goods became accessions is superior to all subsequently acquired interests in the whole except as stated in (d) of this section but is subordinate to interests in the whole existing at the time the lease contract was made unless the holders of those interests in the whole have in writing consented to the lease or disclaimed an interest in the goods as part of the whole.
(d) The interest of a lessor or a lessee under a lease contract described in (b) or (c) of this section is subordinate to the interest of

(1) a buyer in ordinary course of business or a lessee in ordinary course of business of an interest in the whole acquired after the goods became accessions; or
(2) a creditor with a security interest in the whole perfected before the lease contract was made to the extent that the creditor makes subsequent advances without knowledge of the lease contract.
(e) When under (b) or (c), and (d) of this section, and subject to (f) of this section, a lessor or a lessee of accessions holds an interest that is superior to all interests in the whole, the lessor or the lessee may remove the goods from the whole, free and clear of all interests in the whole, but the lessor or lessee must reimburse a holder of an interest in the whole who is not the lessee and who has not otherwise agreed, for the cost of repair of physical injury but not for a diminution in value of the whole caused by the absence of the goods removed or by a necessity for replacing them. A person entitled to reimbursement may refuse permission to remove until the party seeking removal gives adequate security for the performance of this obligation.
(f) The lessor or the lessee may remove the goods under (e) of this section

(1) on default, expiration, termination, or cancellation of the lease contract by the other party but subject to the provisions of the lease contract and this chapter; or
(2) if necessary to enforce other rights and remedies of the lessor or lessee under this chapter.
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