Sec. 34.35.355. Bona fide purchasers.
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/ak/title-34/chapter-35/34-35-355·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 34.35.355. Bona fide purchasers.
The court shall conclusively presume that a party who purchases property on which a lien is claimed, within the time allowed for the filing of the lien, is not an innocent purchaser for value and is not a bona fide owner of the property subject to the lien, unless it appears that
(1)the purchaser paid the reasonable value of the property; and
(2)the purchase price for the property is applied to the payment of the bona fide claimants who are entitled to liens upon the property under AS 34.35.320 — 34.35.390.