(a) The department shall deposit the proceeds of real property sold under AS 38.95.230(a)(1) less the expenses of sale, including attorney fees and appraisal and publication costs, in an escheated real property trust account. The department shall maintain the proceeds in the account for a period of at least seven years after the date of the judgment of escheat. The department may use money in the trust account to pay claims made under AS 38.95.240.
(b) All money collected under (a) of this section not required to be kept in the escheated real property trust account shall be deposited in the general fund.
Structure Alaska Statutes
Chapter 95. Miscellaneous Provisions
Article 6. Real Property Escheated to State.
Sec. 38.95.200. Real property subject to escheat.
Sec. 38.95.210. Enforcement of rights by department.
Sec. 38.95.220. Judgment of escheat.
Sec. 38.95.230. Management of escheated real property by department.
Sec. 38.95.240. Time within which to claim escheated real property.
Sec. 38.95.250. Proceeds of sale or redemption.
Sec. 38.95.260. Disposition of sale proceeds seven years after the judgment of escheat.