Alaska Statutes > Chapter 20
Alaska Statutes > Chapter 20 – Mortgages and Trust Deeds
Terms Used In Alaska Statutes > Chapter 20 action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060 Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths. Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC board: means the state Board of Education and Early Development. See Alaska Statutes 14.60.010 Contract: A legal written agreement that becomes binding when signed. Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries. Deed: The legal instrument used to transfer title in real property from one person to another. Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other. Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC Lien: A claim against real or personal property in satisfaction of a debt. Mortgage: The written agreement pledging property to a creditor as collateral for a loan. Mortgagee: The person to whom property is mortgaged and who has loaned the money. Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money. 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 property: includes real and personal property. See Alaska Statutes 01.10.060 Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land. state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060 Trustee: A person or institution holding and administering property in trust. Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.