AK Bar Alaska Property Law 2

Question 1

What is the Alaska homestead exemption amount for purposes of creditor protection?

Accepted Answer

$72,900

Answer

AS 09.38.010 protects up to $72,900 of equity in a principal residence from most creditors in Alaska.

Question 2

In Alaska, a deed must be acknowledged before whom to be eligible for recording?

Accepted Answer

A notary public or other officer authorized to administer oaths

Answer

AS 34.15.010 requires deeds to be acknowledged before a notary public or other authorized officer for recording eligibility.

Question 3

What interest does a purchaser under a land sales contract hold in Alaska before the contract is fully paid?

Accepted Answer

Equitable title

Answer

Under a land sales contract, the buyer holds equitable title while the seller retains legal title until the purchase price is paid in full.

Question 4

Alaska recognizes which of the following forms of co-ownership that includes a right of survivorship?

Accepted Answer

Joint tenancy with right of survivorship

Answer

Alaska recognizes joint tenancy with right of survivorship, where the surviving joint tenant automatically receives the deceased tenant's share.

Question 5

Under Alaska zoning law, a use that lawfully existed before a zoning restriction that now prohibits it is called a?

Accepted Answer

Nonconforming use

Answer

A nonconforming use is a lawful pre-existing use that a new zoning ordinance prohibits, generally allowed to continue subject to limitations.

AK Bar - Alaska Bar Exam Practice Test