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(a) An entryperson desiring to purchase a homesite under AS 38.08.060 (e) shall file an application to purchase within seven years after the issuance of the entry permit. The requirements of AS 38.08.060 (a)(2) must be met before filing an application to purchase.
(b) If the director approves an application to purchase a homesite, each entryperson shall obtain an appraisal of the land. The appraisal must be made according to standard appraisal instructions provided by the department and is subject to approval by the director.
(c) A contract to purchase a homesite must be executed and returned to the department within 30 days after it is mailed by the department to the entryperson. The down payment for the purchase must be returned with the executed purchase contract. The director may, for good cause, extend the time period allowed for execution of the purchase contract.
History: Eff. 7/19/85, Register 95; am 8/23/87, Register 103
Authority: AS 38.05.020
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Last modified 7/05/2006