5 A property owner can also reserve a life estate interest-in which case the current owner, or grantor, is also the life tenant-while conveying the remainder interest to a successor. A life estate deed transfers title to a life tenant for life and designates a successor-called a remainderman or remainder beneficiary-to take title upon the life tenant’s death. 4 However, an Alaska deed can expressly transfer a lesser interest in real estate, and a property owner can retain rights in transferred real estate. When a property owner executes a deed, Alaska law assumes that the owner intends to convey his or her entire interest in the property. For instance, a quitclaim deed might also be an life estate deed.Īlaska recognizes the following deed forms that are often used in or relate to estate planning: The above warranty-based names and the below purpose-based names are not necessarily mutually exclusive. Alaska also recognizes other real estate deeds defined not by the warranty but by the deed’s purpose. The names of the above-described Alaska deed forms indicate the level of warranty provided by the property’s current owner who signs the deed. What types of estate planning deeds does Alaska use? We’ll go over the options that are available in Alaska and provide guidance on choosing the deed form that matches your goals. Questions about what deed form is right for you?Ĭlick the link below to use our guided interview. Alaska does not provide statutory model language for special warranty deeds, so phrasing that specifies a special warranty deed is based on common law and Alaska’s legal traditions and customs. Depending on the jurisdiction, special warranty deeds are sometimes called limited warranty deeds, grant deeds, or covenant deeds. The new owner bears the risk of title defects originating before the current owner owned the property. When signing a special warranty deed, the current owner guarantees title is free of defects-but only as to defects arising during the period in which the current owner owned the property. 3Īn Alaska special warranty deed form is a compromise approach between quitclaim deeds and warranty deeds. That no claimant will assert superior title to the property and-if an adverse claim emerges-the owner will defend the new owner’s title.That the property is free from liens other than as have been disclosed and.That the owner has lawful title to the property and may transfer valid title.Under Alaska law, a property owner who signs a warranty deed guarantees: In some states, warranty deeds are called general warranty deeds or statutory warranty deeds. 2 Alaska Warranty Deed FormĪn Alaska warranty deed form transfers the property owner’s interest in the property to the new owner with full warranty of title. Quitclaim deed and quit claim deed are both acceptable spellings, but the term quick claim deed is incorrect, though often erroneously employed. 1 The new owner bears all risk that a defect will arise in the legal title to the transferred property. Alaska Quitclaim Deed FormĪn Alaska quitclaim deed form transfers all interest the current owner owns in real estate to the new owner, but the current owner provides no warranty of title. Like most states, Alaska recognizes three basic levels of warranty that a deed can provide: quitclaim deeds, warranty deeds, and special warranty deeds. What types of deeds are recognized in Alaska?Ī critical distinction between certain types of real estate deeds is the warranty of title provided by the person transferring title to the property ( grantor). Just complete a user-friendly interview and get a customized deed that is attorney-designed to meet Alaska recording requirements. Our deed creation software makes it easy.
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