Terms Used In Alaska Statutes > Title 38 > Chapter 5 > Article 2 - Sale of Land

• action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
• agricultural land: means land chiefly valuable for agricultural purposes. See Alaska Statutes 38.05.965
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• commissioner: means the commissioner of natural resources. See Alaska Statutes 38.05.965
• 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.
• department: means the Department of Natural Resources. See Alaska Statutes 38.05.965
• director: means the director of the division of lands of the Department of Natural Resources. See Alaska Statutes 38.05.965
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• 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.
• Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
• 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}
• grazing land: means land chiefly valuable for grazing purposes. See Alaska Statutes 38.05.965
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• land: means all land, including shoreland, tideland , and submerged land, or resources belonging to or acquired by the state. See Alaska Statutes 38.05.965
• 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}
• month: means a calendar month unless otherwise expressed. See Alaska Statutes 01.10.060
• 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
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• shoreland: means land belonging to the state which is covered by nontidal water that is navigable under the laws of the United States up to ordinary high water mark as modified by accretion, erosion, or reliction. See Alaska Statutes 38.05.965
• 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
• writing: includes printing. See Alaska Statutes 01.10.060