The Alaska Land Title Association is proud to announce that HB124, which we sponsored and introduced beginning with last year’s session, has passed. We have worked very hard with our underwriters and other real estate and mortgage industry stakeholders to see it through the legislative process.
The law is modeled after the Revised Uniform Law on Notarial Acts and does two primary things:
For more information regarding HB124, please visit the official Alaska State Legislature site by clicking on
the following link: Alaska State Legislature – HB124
Enrolled HB80 – Adopting the Municipal Property Assessed Clean Energy Act;
Authorizing municipalities to establish programs to impose assessments for energy improvements in regions designated by municipalities; imposing fees; and providing for an effective date. Read the legislation here.
AK ALTA Note: Property owners must give mortgage lien holders 30 days notice of intention to participate in program and must obtain consent from each mortgage lien holder.
Enrolled SB 100 – Relating to municipal liens; relating to service areas in second class boroughs;
Relating to a municipal tax exemption or deferral for economic development property; relating to a municipal tax exemption for a fire protection system; and providing for an effective date. Read the legislation here.
AK ALTA Note: Liens filed under municipal ordinances/laws are recognized as valid, with same status as liens filed and recognized under state or federal statutes, and are not or can no longer allege to be nonconsensual common law liens.
HB15A – Marriage & Spouses
Removes the words “husband and wife” and replaces with “spouses” in all relevant statutes.
HB93 & SB68 – AK Railroad ROW’s
Would require ARR to record Notice of adjoining RR ROW against properties each side of Railroad corridor ROW.
HB208 & SB94 Trust Powers of Appointment
Updates existing trust laws relating to decanting and powers of appointment.
SB64 Uniform Environmental Covenants Act
Provides for owner of remediated property to grant covenants with use limitations to mitigate risk by restricting activities that could result in exposure. Protects the buyer and seller of contaminated property while allowing the fullest and best use of the property until the contamination reaches safe levels.