3 AAC 190.460. Waiver of fair market value requirement

The commissioner will, in his or her discretion, and with the specific approval of the recognized village entity or the village residents as provided in 3 AAC 190.110 - 3 AAC 190.290, make a written waiver, in whole or in part, of the fair market value requirements of 3 AAC 190.450 as to the disposal of specific parcels of municipal trust land. If the disposal is to the recognized village entity, the entity's resolution requesting the disposal constitutes the necessary approval. A waiver of the fair market value requirement will, in the commissioner's discretion, be made under the following circumstances and subject to the following terms and conditions:

(1) Disposal for public or charitable purposes. No waiver under this paragraph is effective unless it sets out with specificity the public or charitable purpose of the proposed use of the parcel for which disposal is proposed. When a parcel is disposed of pursuant to a waiver under this paragraph, the deed, lease, or other document of conveyance issued by the commissioner is valid only if it contains a condition subsequent which insures that if the land is used for any purpose other than the purpose set out in the condition, title and all other interests automatically revert to the state in trust or to any successor municipality established in the Native village in the future.

(2) Disposal for village relocation or reestablishment purposes. A waiver under this paragraph is not effective except as to land conveyed to a person who is a resident or occupant of the Native village at the time of a general relocation or reestablishment of the village as determined and approved by the recognized village entity or the village residents as provided in 3 AAC 190.110 - 3 AAC 190.290. The grantee shall, however, reimburse the state in trust for expenses that the state incurs related to the disposal, which are accounted for under 3 AAC 190.480.

(3) Disposal based upon equitable interest. A waiver under this paragraph is not effective except as to a parcel of land conveyed to a person who has a valid claim of equitable interest in improvements located upon that parcel which is recognized under 3 AAC 190.470. The grantee shall, however, reimburse the state in trust for expenses that the state incurs related to the disposal which are accounted for under 3 AAC 190.480.

(4) Disposal to village residents for residential expansion purposes. A waiver under this paragraph is not effective except as to a parcel of land conveyed to, or for the benefit of, a bona fide village resident, as defined by 3 AAC 190.900, of the respective Native village who seeks the parcel for development and use as a personal place of residence. The grantee shall reimburse the state in trust for expenses that the state incurs related to the disposal, which shall be accounted for under 3 AAC 190.480. If a parcel of municipal trust land is disposed of under a waiver under this paragraph, the deed, lease, or other document of conveyance issued by the commissioner will contain a condition subsequent that insures that if the land is used for any use other than residential use during a period of 10 years after the disposal, title reverts to the state in trust or to any successor municipality established in the Native village in the future.

History: Eff. 9/21/79, Register 71; am 11/19/88, Register 108

Authority: AS 44.33.755

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