(a) If a declaration requires an association of apartment owners to obtain the consent of a lienholder with a lien on the property before the association may amend the declaration, the association may obtain the consent of the lienholder under this section.
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Terms Used In Alaska Statutes 34.07.025

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • apartment: means a part of the property intended for any type of independent use, including one or more rooms or enclosed spaces located on one or more floors, or part or parts of the floors, in a building, regardless of whether or not it is destined for a residence, an office, the operation of any industry or business, or for any other use not prohibited by law, and that has a direct exit to a public street or highway, or to a common area leading to the street or highway. See Alaska Statutes 34.07.450
  • association of apartment owners: means all of the apartment owners acting as a group in accordance with the bylaws and with the recorded declaration. See Alaska Statutes 34.07.450
  • declaration: means the instrument by which the property is submitted to provisions of this chapter and as it may be, from time to time amended. See Alaska Statutes 34.07.450
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgagee: The person to whom property is mortgaged and who has loaned the money.
  • person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
  • property: means the land, the building, all its improvements and structures, all owned in fee simple absolute or qualified or by way of a periodic estate, or in any other manner in which real property may be owned in the state, and all easements, rights, and appurtenances belonging to it, none of which shall be considered as a security or security interest, and all articles of personalty intended for use in connection with it, that have been or are intended to be submitted to this chapter. See Alaska Statutes 34.07.450
  • writing: includes printing. See Alaska Statutes 01.10.060
(b) To amend the declaration under (a) of this section, the association of apartment owners shall send to a lienholder a dated written notice and a copy of the proposed amendment by certified mail, return receipt requested, to the most recent address of the lienholder shown on the mortgage, deed of trust, or other document that established the lien and to any other address provided by the lienholder to the association in writing.
(c) The association of apartment owners shall include in the notice provided under (b) of this section

(1) a statement that the association intends to amend the declaration;
(2) a request that the lienholder consent to the amendment;
(3) a statement that the association will amend the declaration if the lienholder fails to respond to the notice within 60 days after the postmark date of the notice; and
(4) a statement that the lienholder may not unreasonably withhold the lienholder’s consent.
(d) If an association of apartment owners complies with (b) and (c) of this section and the lienholder fails to respond to the association within 60 days after the postmark date of the notice provided under (b) of this section, the lienholder is considered to have approved the proposed amendment.
(e) A lienholder may not unreasonably withhold the lienholder’s consent to an amendment under this section.
(f) This section is not intended to be the exclusive method for an association of apartment owners to obtain the consent of a lienholder to an amendment of the declaration. If the association obtains the consent of a lienholder without using the method provided by this section, the association may obtain the consent of other lienholders by using the method provided by this section.
(g) This section applies to a lienholder whose lien on the property has been recorded under Alaska Stat. Chapter 40.17.
(h) In this section, “lienholder” means a person that is a mortgagee, lender, or other holder of a lien on the property.
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