(a) A buyer who has a claim against an escrow account required by Alaska Stat. § 45.66.100 may bring a civil action against the seller or escrow account holder to recover money from the escrow account.

Terms Used In Alaska Statutes 45.66.120

  • action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • 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
(b) Upon the filing of an action brought under this section, the clerk of the court shall mail a copy of the complaint to the attorney general and, upon entry of an order or judgment in the action, shall mail a copy of the order or judgment to the attorney general.
(c) A person may not begin an action under this section more than two years after the person discovers or reasonably should have discovered the basis for the claim.
(d) The escrow account holder is not liable for the amount by which claims or damages caused by the seller exceed the amount of the escrow account.
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