Section 34.35.275. Bona fide purchasers.

Latest version.

The court shall conclusively presume that a party purchasing the property liened upon within the 60 days given to claimants to record their liens is not an innocent third party and is not a bona fide owner of the property, unless it appears that
        (1) the purchaser has paid full value for the property; and
        (2) the purchase money has been applied to the payment of the bona fide claims that are entitled to liens upon the property under AS 34.35.230  -  34.35.315 according to the priorities established in those sections.

Notes

History

(Sec. 26-5-10 ACLA 1949)

                    
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