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As used in this chapter, the following words and terms shall have the following meanings unless the context requires otherwise in AS 34.55, or in the forms, instructions and orders of the department:
(1) "Act" means the Alaska Uniform Land Sales Practices Act;
(2) "advertising" means the publication or causing to be published of any matter by any means which offers any interest in the title to a subdivision or part thereof; causes or induces, directly or indirectly, any person to acquire any interest in the title to a subdivision or a part of it; or is used to induce prospective purchasers to attend land sales presentations;
(3) "blanket encumbrance" means a trust deed or mortgage or mechanics lien or any other lien or financial encumbrance, securing or evidencing money debt and affecting lands to be subdivided or affecting more than one lot, parcel, unit, or interest of subdivided land; or an agreement affecting more than one lot, parcel, unit, or interest by which the developer holds the subdivision under an option, contract to purchase, or trust agreement, except a lien or other encumbrance arising as a result of the imposition of a tax assessment by a public authority, so long as no portion of it is past due;
(4) "department" means the Department of Commerce, Community, and Economic Development;
(5) "developer" means a person, or his agent, who, directly or indirectly, offers subdivided land for disposition, or who advertises subdivided land for disposition;
(6) "offer" means every inducement, solicitation or attempt to encourage a person to acquire an interest in land, if undertaken for gain or profit;
(7) "person" means an individual, firm, company, association, corporation, government or any subdivision of government, business trust, estate, trust, partnership, unincorporated association or organization, joint ventures, or any other legal or commercial entity;
(8) "sale" means any sale, exchange, lease, assignment, or other transaction designed to convey a interest in any portion of a subdivision when undertaken for profit;
(9) "unit," as in a subdivision unit, means any group of parcels or interests within a clearly defined boundary which are being sold or offered for sale as part of a subdivision or common promotional plan, as the group of parcels or interests have been filed of record with any local government agency having jurisdiction.
History: Eff. 4/3/76, Register 58
Authority: AS 34.55.020
Editor's note: As of Register 171 (October 2004), the regulations attorney made technical revisions under AS\n 44.62.125(b)(6) to reflect the name change of the Department of Community and Economic Development to the Department of Commerce, Community, and Economic Development made by ch. 47, SLA 2004 and the corresponding title change of the commissioner of community and economic development.
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Last modified 7/05/2006