Alaska Statutes 29.45.360 – General foreclosure
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Terms Used In Alaska Statutes 29.45.360
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- municipality: means a political subdivision incorporated under the laws of the state that is a home rule or general law city, a home rule or general law borough, or a unified municipality. See Alaska Statutes 01.10.060
- property: includes real and personal property. See Alaska Statutes 01.10.060
A municipality shall bring one general foreclosure proceeding in rem against the properties included in the foreclosure list. If the owner is unknown, the property is proceeded against as belonging to “unknown owner.”