Alaska Administrative Code › Title 3 - Commerce, Community, and Economic Development › Part 1 - Banking, Securities, Small Loans and Corporations › Chapter 20 - Land Sales › Article 5 - General Provisions › 3 AAC 20.390 - Definitions

Current through May 31, 2024
As used in this chapter, the following words and terms
					 shall have the following meanings unless the context requires otherwise in AS
					 34.55, or in the forms, instructions and orders of the department:
(1) "Act" means the Alaska Uniform Land Sales
				  Practices Act;
(2) "advertising"
				  means the publication or causing to be published of any matter by any means
				  which offers any interest in the title to a subdivision or part thereof; causes
				  or induces, directly or indirectly, any person to acquire any interest in the
				  title to a subdivision or a part of it; or is used to induce prospective
				  purchasers to attend land sales presentations;
(3) "blanket encumbrance" means a trust deed
				  or mortgage or mechanics lien or any other lien or financial encumbrance,
				  securing or evidencing money debt and affecting lands to be subdivided or
				  affecting more than one lot, parcel, unit, or interest of subdivided land; or
				  an agreement affecting more than one lot, parcel, unit, or interest by which
				  the developer holds the subdivision under an option, contract to purchase, or
				  trust agreement, except a lien or other encumbrance arising as a result of the
				  imposition of a tax assessment by a public authority, so long as no portion of
				  it is past due;
(4) "department"
				  means the Department of Commerce, Community, and Economic
				  Development;
(5) "developer" means
				  a person, or his agent, who, directly or indirectly, offers subdivided land for
				  disposition, or who advertises subdivided land for disposition;
(6) "offer" means every inducement,
				  solicitation or attempt to encourage a person to acquire an interest in land,
				  if undertaken for gain or profit;
(7) "person" means an individual, firm,
				  company, association, corporation, government or any subdivision of government,
				  business trust, estate, trust, partnership, unincorporated association or
				  organization, joint ventures, or any other legal or commercial
				  entity;
(8) "sale" means any sale,
				  exchange, lease, assignment, or other transaction designed to convey a interest
				  in any portion of a subdivision when undertaken for profit;
(9) "unit," as in a subdivision unit, means
				  any group of parcels or interests within a clearly defined boundary which are
				  being sold or offered for sale as part of a subdivision or common promotional
				  plan, as the group of parcels or interests have been filed of record with any
				  local government agency having jurisdiction.
As of Register 171 (October 2004), the regulations
						attorney made technical revisions under
						AS
						44.62.125(b)(6) to reflect
						the name change of the Department of Community and Economic Development to the
						Department of Commerce, Community, and Economic Development made by ch. 47, SLA
						2004 and the corresponding title change of the commissioner of community and
						economic development.
Authority:
AS
						34.55.020