Alaska § 18.56.480 - Title.
Full text of Alaska Alaska Statutes § 18.56.480 — Title., with citation guidance and answers to common questions.
§ 18.56.480. Title.
(a) Before the corporation originates or purchases a small community housing mortgage loan in whole or in part, the corporation may require a borrower to show marketable title to real property offered as security for the loan to be purchased.
(b) A borrower may show marketable title to real property for the purposes of (a) of this section (1) by purchasing title insurance from a title insurance company authorized to do business in the state; or
(2) by delivering to the corporation a copy of a letter of intent signed by an authorized representative of the United States Department of the Interior that shows the transfer of title to the property from the United States government to the borrower if (A) the borrower is an Alaska Native; and
(B) title to the property was originally transferred from the United States government, directly or indirectly, to the borrower under federal law.
(c) For the purposes of this section, a deed which federal law prohibits or limits the power to transfer or encumber and which would otherwise constitute marketable title to real property is considered marketable title to real property if the United States Bureau of Indian Affairs or another appropriate federal agency waives immunity under the federal law from foreclosure or other alienation of the real property.
Frequently Asked Questions About Alaska § 18.56.480
What does Alaska Statutes § 18.56.480 cover?
Section 18.56.480 ("Title.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 18.56.480?
A common citation format is "Alaska Statutes § 18.56.480" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 18.56.480 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.