The Commission is not involved in the transfer of funds. It is a good idea for the buyer and seller to set up an escrow account to hold the funds until they are assured that the transfer has been approved and completed. If requested to do so, the Commission will notify the escrow office upon completion of the transfer. Yes, as long as the transferee is physically capable of participating in the fishery, e.g. meets the minimum age requirements, and does not already hold a permit for the same fishery. In situations involving transfer from a deceased permit holder's estate, the permit may be transferred to an heir who is not physically able to participate in the fishery.
All permanent transfers require the same forms and procedures.
Sometimes patterns of recurrent transfers or unusual circumstances relating to financing are indicative of permit leasing. Transferable limited entry permits survive the death of the permit holder. Under Alaska law, in the absence of a will a permit may be transferred directly to the surviving spouse. If a permit holder wants to make sure the permit goes to a specific person, it is best to include mention of it in a will. If there is no spouse or designated recipient, the permit becomes part of the estate and the legal representative of the estate would have authority to transfer the permit.