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(a) If the department retains escheated real property and, after the seven-year redemption period, disposes of the property for less than fair market value, the department will first appraise the property in order to establish its fair market value so that it may later satisfy a successful claimant under AS 39.95.240 (d) who was a minor or an incapacitated person during the redemption period.
(b) An appraisal of escheated real property under AS 38.95.230 (a)(1) will occur within two years after the judgment of escheat under AS 38.95.220 .
History: Eff. 8/16/89, Register 111
Authority: AS 38.05.020
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Last modified 7/05/2006