Terms Used In Alaska Statutes 45.45.070

  • Contract: A legal written agreement that becomes binding when signed.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.

A contract entered into under Alaska Stat. § 45.45.060 may be enforced by the parties to it. However in making an assessment of a credit loan or mortgage, it shall be assessed to the holder of the contract.