(a) Unless the method of disposition is adopted for the purpose of evasion of this chapter, the registration provisions of this chapter do not apply to offers or dispositions of an interest in land

contract signature

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Terms Used In Alaska Statutes 34.55.042

  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • department: means Department of Commerce, Community, and Economic Development. See Alaska Statutes 34.55.044
  • disposition: includes sale, lease, assignment, award by lottery, or any other transaction concerning a subdivision, if undertaken for gain or profit. See Alaska Statutes 34.55.044
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • purchaser: means a person who acquires or attempts to acquire or succeeds to an interest in land. See Alaska Statutes 34.55.044
  • state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
  • Statute: A law passed by a legislature.
  • subdivider: means an owner of subdivided land who offers it for disposition or the principal agent of an inactive owner. See Alaska Statutes 34.55.044
(1) by a purchaser of subdivided land for the account of the purchaser in a single or isolated transaction;
(2) if fewer than 10 separate lots, parcels, units, or interests in subdivided land located outside this state are offered by a subdivider in a period of 12 months, or if fewer than 50 separate lots, parcels, units, or interests in subdivided land located in this state are offered by a subdivider in a period of 12 months;
(3) on which there is a residential, commercial, or industrial building, or as to which there is a legal obligation on the part of the seller to construct such a building within one year from date of disposition;
(4) to persons who are engaged in the business of construction of buildings for resale, or to persons who acquire an interest in subdivided land for the purpose of engaging, and do engage in the business of construction of buildings for resale;
(5) under court order;
(6) by a government or government agency;
(7) as cemetery lots or interest;
(8) if the land is located in this state and is registered or exempt from registration under the provisions of the federal Interstate Land Sales Full Disclosure Act (15 U.S.C. § 1701 – 1720).
(b) Unless the method of disposition is adopted for the purpose of evasion of this chapter, the provisions of this chapter do not apply to

(1) offers or dispositions of evidences of indebtedness secured by a mortgage or deed of trust of real estate;
(2) offers or dispositions of securities or units of interest issued by a real estate investment trust regulated under a state or federal statute;
(3) offers or dispositions of securities currently registered with the department; and
(4) offers or disposition of an interest in oil, gas, or other minerals or a royalty interest therein if the offers or dispositions of the interests are regulated as securities by the department or by the United States.
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