Alaska Statutes 34.27.020 – Abolition of the common law rule in Shelley’s case
Current as of: 2023 | Check for updates
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Terms Used In Alaska Statutes 34.27.020
- Devise: To gift property by will.
- 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
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
If real property is granted or devised to a person and after the person’s death, to the person’s heirs or the heirs of the person’s body, however the grant or devise is expressed, an estate for life only vests in the person, and a remainder goes to the person’s heirs or the heirs of the person’s body as purchasers.