The assembly may approve and authorize the purchase of real property by contract of sale, deed of trust or mortgage. The borough may hold real property in trust for any public purpose.ī. The borough may acquire and hold real property as sole owner or as tenant in common or other lawful tenancy, with any other person or governmental body for any public purpose.
The borough may not acquire any real property by means of a dedication by plat unless the dedication of the real property is accepted in writing and signed by the mayor and approved pursuant to NABC 2.48.040. Unless otherwise provided by resolution, the mayor is authorized to obtain title insurance, to execute any instruments and to take all steps necessary to complete and close the purchase and acquisition of the real property. Unless otherwise prohibited by the assembly, the borough shall purchase marketable title in the real property. Prior to approval, the mayor is to furnish the assembly with an abstract of title, the value assessed by the borough tax assessor or other appraisal of the real property, and a review of any problems in acquisition, but the failure to furnish the assembly any such material shall not affect the validity of any acquisition or purchase of real property by the borough.Į.
#Conveyance of real property in alaska license#
No assembly approval is necessary to acquire any easement, right-of-way, permit, license or other interest in real property if necessary for a utility or public improvement where the utility or public improvement has been authorized and approved by the assembly.ĭ. The resolution shall set forth the terms, conditions and manner of acquisition.Ĭ. Only upon a specific resolution of the assembly the mayor may act on its behalf in real property when that property to be acquired is for a valuable consideration or as part of a program of grants under which the borough may receive only a limited amount of acreage. The form of any conveyance shall be approved by the borough attorney.ī. Any instrument requiring execution by the borough shall be signed by the mayor and attested by the borough clerk. Real property shall be held in the name of the Northwest Arctic Borough. The borough may acquire, own and hold real property by warranty or quit claim deed, easement, grant, permit, license deed of trust, mortgage, contract of sale of real property, plat dedication, lease, tax deed, will, or any other lawful method or mode of conveyance or grant. The borough shall have and may exercise all rights and powers in the acquisition, ownership and holding of real property as if the borough were a private person. The borough may acquire, own and hold real property by purchase, gift, devise, grant, dedication, exchange, redemption, purchase of equity of redemption, operation of law, tax or lien foreclosure, adverse possession, condemnation or declaration of taking, annexation or by any other lawful means or conveyances. 2.48.010 Real property defined.Īs used in this chapter, “real property” means and includes any estate in land, easements, right-of-way, lease, permit, license, franchise, future interest, building, fixtures or any other right, title or interest in land or a building. 2.48.020 Acquisition and ownership – Authority.Ģ.48.030 Acquisition and ownership – Rights and powers.Ģ.48.050 Acquisition – Dedication by plat.Ģ.48.100 Conveyances under Section 14(c)(3) of ANCSA.
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