(a) Real property in an intestate estate for which no taker can be found and real property devised by will for which no devisee, heir, or other claimant can be found escheats to the state. (b) Real property of a defunct organization or corporation, for which no proceeding for distribution has been instituted within four […]
(a) When the Department of Natural Resources is informed or has reason to believe that real property has escheated to the state, the department shall bring an action in superior court to establish whether the property has escheated to the state. (b) The department may maintain an action to recover the possession of escheated property, […]
(a) If the superior court determines that the real property has escheated to the state, the superior court shall issue a judgment of escheat. (b) A court order approving settlement of an estate that distributes real property to the state is a judgment of escheat.
(a) After a judgment of escheat under AS 38.95.220, the department may sell, lease, exchange, assign, or otherwise manage real property that has escheated to the state. In determining the proper disposition of escheated real property the department shall, within two years after the judgment of escheat under AS 38.95.220, make a written finding that […]
(a) Within seven years after a judgment of escheat under AS 38.95.220, a person who is not a party to the escheat proceeding may bring an action in the superior court to prove the person’s claim to the real property. If the plaintiff establishes the claim and establishes that the plaintiff had no knowledge of […]
(a) The department shall deposit the proceeds of real property sold under AS 38.95.230(a)(1) less the expenses of sale, including attorney fees and appraisal and publication costs, in an escheated real property trust account. The department shall maintain the proceeds in the account for a period of at least seven years after the date of […]
Seven years after the judgment of escheat, net proceeds from the sale of escheated real property may be transferred from the escheated real property trust account to the general fund and credited to the land disposal income account under AS 38.04.022, unless a person who was the owner or one of the owners of the […]
In AS 38.95.200 – 38.95.270, “department” means the Department of Natural Resources.
