Alaska § 34.27.053 - Savings provision.
Full text of Alaska Alaska Statutes § 34.27.053 — Savings provision., with citation guidance and answers to common questions.
§ 34.27.053. Savings provision.
A property interest that, under AS 34.27.051 , becomes invalid shall, upon the expiration of the 1,000-year period set out in AS 34.27.051 , (1) if income from the property interest is payable (A) to one person, be distributed to the person to whom the income is then payable;
(B) to more than one person, be distributed to the persons to whom the income is then payable (i) in the shares to which the persons are entitled to the income; or
(ii) equally among all persons who are entitled to the income if shares are not specified;
(2) if income from the property interest is payable in the discretion of a trustee and is payable (A) to one person, be distributed to the person then eligible to receive the income; or
(B) to more than one person, be distributed to the persons then eligible to receive the income (i) in the shares to which the persons are entitled to the income; or
(ii) equally among all persons who are entitled to the income if shares are not specified; or
(3) when there is no person then living to whom the property interest may be distributed under (1) or (2) of this section, be payable to one or more organizations described in 26 U.S.C. 2055(a) (Internal Revenue Code), or to one or more organizations described in any successor provision to 26 U.S.C. 2055(a), in the shares or proportions that the trustee or trustees then acting may determine.
Frequently Asked Questions About Alaska § 34.27.053
What does Alaska Statutes § 34.27.053 cover?
Section 34.27.053 ("Savings provision.") 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 § 34.27.053?
A common citation format is "Alaska Statutes § 34.27.053" (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 § 34.27.053 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.