CSSB 263(JUD): "An Act relating to the subsequent acquisition of title to, or an interest in, real property by a person to whom the property has purportedly been granted in fee or fee simple; and providing for an effective date."
00 CS FOR SENATE BILL NO. 263(JUD) 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 in some cases the common law rule 08 that estoppel by deed does not apply when the conveyance is made by a quitclaim deed and 09 that a quitclaim deed passes only the title the grantor has on the date of the quitclaim deed. 10 * Sec. 2. AS 34.15 is amended by adding a new section to read: 11 Sec. 34.15.075. Receipt of after-acquired title or interest. In addition to 12 any estate passed by the grantor under AS 34.15.070, whenever a person purports by a 13 warranty deed, or, for Native corporation real property, a quitclaim deed, to grant real 14 property in fee or in fee simple to a grantee and subsequently acquires title to, or an
01 interest in, the real property, the subsequently acquired title or interest passes by 02 operation of law to the grantee or the grantee's successors. In this section, "Native 03 corporation real property" means real property conveyed by the federal government 04 under 43 U.S.C. 1601-1629h (Alaska Native Claims Settlement Act) to a corporation 05 established under 43 U.S.C. 1601-1629h. 06 * Sec. 3. The uncodified law of the State of Alaska is amended by adding a new section to 07 read: 08 APPLICABILITY. To the extent constitutionally permissible, this Act applies to a 09 title or interest that is acquired after the execution of a warranty or quitclaim deed if the title 10 or interest is acquired on or after the effective date of this Act, whether or not the warranty or 11 quitclaim deed is executed before, on, or after the effective date of this Act. 12 * Sec. 4. This Act takes effect immediately under AS 01.10.070(c).