CSHB 236(RLS) AM S: "An Act relating to notices for the sale of certain real property."
00CS FOR HOUSE BILL NO. 236(RLS) am S 01 "An Act relating to notices for the sale of certain real property." 02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 03 * Section 1. AS 09.35.140 is amended to read: 04 Sec. 09.35.140. NOTICE OF SALE ON EXECUTION. Before the sale of 05 property on execution, notice of the sale shall be given as follows: 06 (1) notice [NOTICE] of the sale of personal property is given by 07 posting a written or printed notice of the time and place of sale in three public places 08 within five miles of the place where the sale is to be held, not less than 10 days 09 before [PRIOR TO] the day of sale; one [. ONE] of the notices shall be posted at the 10 post office nearest to the place where the sale is to take place; [.] 11 (2) notice [NOTICE] of the sale of real property is given by posting 12 a similar notice particularly describing the property, including the property's street 13 address if there is a street address for the property, not less than 30 days before 14 the day of sale in three public places, as provided in (1) of this section, and publishing
01 a copy of the notice four times, once a week for four successive weeks in a newspaper 02 of general circulation published nearest to the place of sale; an inaccuracy in the 03 street address may not be used to set aside a sale if the legal description is 04 correct; in this paragraph, "newspaper of general circulation" means a 05 publication that 06 (A) is published in newspaper format; 07 (B) is distributed at least once a week for at least 50 weeks 08 each year within the judicial district, excluding a period when publication 09 is interrupted by a labor dispute or by a natural disaster or other casualty 10 that the publisher cannot control; and has a total paid circulation or paid 11 distribution of at least 500 copies, or 10 percent of the total population of 12 the judicial district, whichever is less; in this subparagraph, "judicial 13 district" means the judicial district where the place of sale is located; 14 (C) holds a second class mailing permit from the United 15 States Postal Service; 16 (D) is not published primarily to distribute advertising; and 17 (E) is not intended primarily for a particular professional 18 or occupational group. 19 * Sec. 2. AS 09.65 is amended by adding a new section to read: 20 Sec. 09.65.160. ACTION TO ESTABLISH NEWSPAPER STATUS. A person 21 who owns a publication may bring an action under AS 22.10.020(g) to establish that 22 the publication is a newspaper of general circulation under AS 09.35.140(2). 23 * Sec. 3. AS 34.20.070(b) is amended to read: 24 (b) Not less than 30 days after the default and not less than three months 25 before the sale the trustee shall record in the office of the recorder of the recording 26 district in which the trust property is located a notice of default setting out (1) the 27 name of the trustor, (2) the book and page where the trust deed is recorded, (3) a 28 description of the trust property, including the property's street address if there is 29 a street address for the property, (4) a statement that a breach of the obligation for 30 which the deed of trust is security has occurred, (5) the nature of the breach, (6) the 31 sum owing on the obligation, (7) the election by the trustee to sell the property to
01 satisfy the obligation, and (8) the date, time, and place of the sale. An inaccuracy in 02 the street address may not be used to set aside a sale if the legal description is 03 correct. At any time before the sale, if the default has arisen by failure to make 04 payments required by the trust deed, the default may be cured by payment of the sum 05 in default other than the principal which would not then be due if no default had 06 occurred, plus attorney fees or court costs actually incurred by the trustee due to the 07 default. If under the same trust deed notice of default under this subsection has been 08 recorded two or more times previously and the default has been cured under this 09 subsection, the trustee may elect to refuse payment and continue the sale.