(a) A deed, lease, contract, assignment of permit, or other instrument transferring an appropriation is void as against a subsequent innocent purchaser who in good faith paid a valuable consideration for the appropriation or any portion of it and whose instrument is first filed and recorded under Alaska Stat. § 46.15.160(b).

Terms Used In Alaska Statutes 46.15.170

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • appropriation: means the diversion, impounding, or withdrawal of a quantity of water from a source of water for a beneficial use or the reservation of water under Alaska Stat. See Alaska Statutes 46.15.260
  • Contract: A legal written agreement that becomes binding when signed.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • 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
(b) A deed, lease, contract, assignment of permit, or other instrument transferring an appropriation that is recorded under Alaska Stat. § 46.15.160(b) is constructive notice of its contents to subsequent purchasers of the appropriation or any portion of it. An unrecorded instrument is valid between the parties to it and as against one who has actual notice of it.
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