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- Alaska Statutes.
- Title 9. Code of Civil Procedure
- Chapter 55. Special Actions and Proceedings
- Section 440. Vesting of Title and Compensation.
previous: Section 430
. Contents of Declaration of Taking.
next: Section 450
. Right of Entry and Possession.
AS 09.55.440. Vesting of Title and Compensation.
- (a) Upon the filing of the declaration of taking and the deposit with the court of the amount of the estimated
compensation stated in the declaration, title to the estate as specified in the declaration vests in the plaintiff, and
that property is condemned and taken for the use of the plaintiff, and the right to just compensation for it vests in
the persons entitled to it. The compensation shall be ascertained and awarded in the proceeding and established by
judgment. The judgment must include interest at the rate of 10.5 percent a year on the amount finally awarded that
exceeds the amount paid into court under the declaration of taking. The interest runs from the date title vests to the
date of payment of the judgment.
- (b) Upon motion of a party in interest and notice to all parties, the court may order that the money deposited or a part
of it be paid immediately to the person or persons entitled to it for or on account of the just compensation to be
awarded in the proceedings. If the compensation finally awarded exceeds the amount of money deposited, the deposit
shall be offset against the award. If the compensation finally awarded is less than the amount of money deposited, the
court shall enter judgment in favor of the plaintiff and against the proper parties for the amount of the excess.
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