{"data":{"id":"us-ak/as-34.25.055","jurisdiction":"us-ak","citation":"AS 34.25.055","heading":"Conveyances to or from trusts.","body":"(a) A person, including a trustee, may convey real property to a trust whether or not a trustee of the trust is named as a grantee in the instrument of conveyance. A trustee of a trust may convey real property from a trust whether or not a trustee of the trust is named as a grantor in the instrument of conveyance.\n(b) In a conveyance under (a) of this section, notice of the existence of the trust does not affect the status of a purchaser as a bona fide purchaser.\n(c) Real property that is owned by a trust and that is purchased by a bona fide purchaser from a person in the person's capacity as trustee of the trust is acquired free of any claim of the beneficiaries of the trust.\n(d) Notwithstanding other provisions of law, a trust instrument may not change the effect of (c) of this section.\n(e) In this section,\n(1) “bona fide purchaser” means a person who purchases real property for value from a trust and who\n(A) has not knowingly been a party to fraud or illegality affecting the interest of persons who are parties to the purchase transaction or beneficiaries of the trust;\n(B) does not have notice of an adverse claim by a beneficiary of the trust; and\n(C) has acted in good faith in the purchase transaction;\n(2) “conveyance” means a conveyance made before, on, or after August 9, 2000;\n(3) “purchaser” means a person who acquires real property by sale, lease, mortgage, pledge, or lien, or who otherwise deals with real property in a voluntary transaction other than by making a gift;\n(4) “real property” includes an interest in real property;\n(5) “value” means acquisition of property\n(A) in return for a binding commitment to extend credit;\n(B) as security for or in total or partial satisfaction of a claim that existed before the giving of the security;\n(C) by accepting delivery of the real property under a contract that is for the purchase of the real property and that existed before the delivery; or\n(D) in return for other consideration sufficient to support a contract.","path":["Title 34. Property.","Chapter 25. Validation of Formal Defects."],"source_url":"https://www.akleg.gov/basis/statutes.asp#34.25.055","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:18:42Z","sha256":"e0910fd607b845d93c60807a97cca6e00e6f8bd839e818b2cd9cb37cf362ca3d","source_id":"us-ak","stale":false,"prev":"us-ak/as-34.25.050","next":"us-ak/as-34.25.060"},"notice":"GroundRules: Original legal text. Not legal advice."}