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The department will, in its discretion, require that the title the state receives be insured, with the state as the named insured, by a title insurance company licensed to do business in Alaska. The department will, in its discretion, accept a title insurance policy with exceptions to complete vesting of title in the owner of the property. The cost of title insurance, unless otherwise agreed, must be paid by the party offering the land or interests in land.
History: Eff. 10/21/84, Register 92
Authority: AS 38.50.010
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Last modified 7/05/2006