Section 34.35.355. Bona fide purchasers.

Latest version.

The court shall conclusively presume that a party who purchases property on which a lien is claimed, within the time allowed for the filing of the lien, is not an innocent purchaser for value and is not a bona fide owner of the property subject to the lien, unless it appears that
        (1) the purchaser paid the reasonable value of the property; and
        (2) the purchase price for the property is applied to the payment of the bona fide claimants who are entitled to liens upon the property under AS 34.35.320  -  34.35.390.

Notes

History

(Sec. 26-6-7 ACLA 1949)

                    
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