Sec. 34.20.150. Maturity of lien.
122 words·~1 min read·
/ak/title-34/chapter-20/34-20-150·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 34.20.150. Maturity of lien.
(a)The date of maturity of an instrument creating a lien upon real property is considered to be 10 years from the date of the instrument, unless
(1)the period of the instrument is disclosed by the terms of the instrument; or
(2)another instrument extending the period of the first instrument or a memorandum of payment of the first instrument is recorded.
(b)When an existing recorded instrument is recorded before March 26, 1955, which creates a lien upon real property but which does not disclose the period of the instrument, another instrument extending the period of the first instrument, or a memorandum of payment of the first instrument may be recorded before January 1, 1956.