The money that is received by a settlement agent for an escrow transaction is not the property of the settlement agent and is not subject to execution, attachment, or other form of collection for a claim against the settlement agent. Escrow money may not be used for a purpose other than to fulfill the terms of the escrow transaction agreement.
Structure Alaska Statutes
Chapter 80. Escrow Transactions for Residential Real Property
Sec. 34.80.010. Characterization of escrow money.
Sec. 34.80.020. Segregation and deposit of escrow money.
Sec. 34.80.030. Interest on escrow money.
Sec. 34.80.040. Disbursement of escrow money.
Sec. 34.80.050. Recording, filing, or delivery of escrow transaction documents.