Alaska § 29.45.470 - Repurchase by record owner.
Full text of Alaska Alaska Statutes § 29.45.470 — Repurchase by record owner., with citation guidance and answers to common questions.
§ 29.45.470. Repurchase by record owner.
(a) The record owner at the time of tax foreclosure of property acquired by a municipality, or the assigns of that record owner, may, within 10 years and before the sale or contract of sale of the tax-foreclosed property by the municipality, repurchase the property. The municipality shall sell the property for the full amount applicable to the property under the judgment and decree plus (1) interest not to exceed 15 percent a year from the date of entry of the judgment of foreclosure to the date of repurchase;
(2) delinquent taxes assessed and levied as though it had continued in private ownership;
(3) costs of foreclosure and sale incurred by the municipality; and
(4) costs of maintaining and managing the property incurred by the municipality including insurance, repairs, association dues, and management fees, that exceed amounts received by the municipality for the use of the property.
(b) After adoption of an ordinance providing for the retention of tax-foreclosed property by the municipality for a public purpose, the right of the former record owner to repurchase the property ceases.
Frequently Asked Questions About Alaska § 29.45.470
What does Alaska Statutes § 29.45.470 cover?
Section 29.45.470 ("Repurchase by record owner.") 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 § 29.45.470?
A common citation format is "Alaska Statutes § 29.45.470" (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 § 29.45.470 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.