00                            SENATE BILL NO. 263                                                                         
01 "An Act relating to the subsequent acquisition of title to, or an interest in, real property                            
02 by a person to whom the property has purportedly been granted in fee or fee simple;                                     
03 and providing for an effective date."                                                                                   
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
05    * Section 1.  The uncodified law of the State of Alaska is amended by adding a new section                         
06 to read:                                                                                                                
07       PURPOSE.  One purpose of this Act is to change the law regarding estoppel by deed                                 
08 as applied in North Star Terminal & Stevedore v.  State, 857 P.2d 335 (Alaska 1993), in                                 
09 which the Alaska Supreme Court applied the common law rule that estoppel by deed does not                               
10 apply when the conveyance is made by a quitclaim deed and that a quitclaim deed passes only                             
11 the title the grantor has on the date of the quitclaim deed.                                                            
12    * Sec. 2.  AS 34.15 is amended by adding a new section to read:                                                    
13            Sec. 34.15.075.  Receipt of after-acquired title or interest.  In addition to                              
14       any estate passed by the grantor under AS 34.15.070, whenever a person purports by a                              

01       warranty or quitclaim deed to grant real property in fee or in fee simple to a grantee                            
02       and subsequently acquires title to, or an interest in, the real property, the subsequently                        
03       acquired title or interest passes by operation of law to the grantee or the grantee's                             
04       successors.                                                                                                       
05    * Sec. 3.  The uncodified law of the State of Alaska is amended by adding a new section to                         
06 read                                                                                                                    
07       APPLICABILITY.  To the extent constitutionally permissible, this Act applies to any                               
08 title or interest that is acquired after the execution of a warranty or quitclaim deed if the title                     
09 or interest is acquired on or after the effective date of this Act, whether or not the warranty or                      
10 quitclaim deed is executed before, on, or after the effective date of this Act.                                         
11    * Sec. 4.  This Act takes effect immediately under AS 01.10.070(c).