Introduction:
The Contract Administration Unit is responsible for the
administration of land sale contracts and patents. We are
located and can be reached at:
Division
of Mining, Land & Water
Contract Administration Unit
550 West 7th Avenue, Suite 640
Anchorage, Alaska 99501
Telephone: (907) 269-8594
Fax: (907) 269-8916
Contract Assignment
Guidelines
General Guidelines:
- the contract must be assignable;
- the assignment form must be completed in triplicate;
- all signatures must be original;
- all notarizations must be original;
- the contract must be in good standing; and
- all fees must be paid in advance.
- Return three copies of the completed assignment form
with original signatures, Tax Identification Number/Social
Security number, notarization, and a current address for
both assignor and assignee on each.
- If the assignee is an individual, include the marital
status following the assignee's name. This would be stated
as "a single woman", "a single man", or "a married man" or "a
married woman." For spouses please indicate your survivorship
preference: This would be stated as "husband and wife,
as tenants by the entirety with full rights of survivorship" or "tenants
in common." If you are other than husband and wife, the
assignment will state both names, as "tenants in common."
- If a collateral assignee exists, a contract may not be
assigned unless the collateral assignee submits a written,
signed letter of release, or a letter of non-objection
to the assignment.
- Corporate signatures on an assignment require signature
by a corporate officer on behalf of a corporation bearing
an acknowledgment that the assignee is an officer of, and
has been authorized by the corporation to execute the assignment.
The assignment must bear the corporate seal and EIN number.
Also submitted with the assignment should be a copy of
the Articles of Incorporation, Corporate Resolution, and
W-9 form.
- HOMESTEADS, HOMESITES, AND REMOTE PARCELS CANNOT BE ASSIGNED,
EXCEPT AS SPECIFIED IN THE CONTRACT.
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Special Situations Guidelines:
When there are two or more
purchasers:
- If you are deleting one of the original purchasers, all
signatures are required as assignor and the remaining purchaser(s)
as assignee(s);
- If one of the purchasers is assigning his interest to
another person, the assignment should reflect all remaining
parties as assignee, not just the new individual (Attach
additional sheets as needed for signatures and notary).
Assignment of Agricultural Interest Contracts: For assignment
of an agricultural interest contract an "Affidavit of Assignee
on Agricultural Interest Contract" form (Form 102-1009) must
accompany the three assignment of contract forms.
Assignment of Property
in case of Divorce:
A copy of the court approved divorce decree
must be submitted to Contract Administration. If all the paperwork
is in order then an amendment is drafted and a filing fee must
be collected. After approval of the amendment a copy is sent
to the purchaser.
Assignment of Property
that is Part of an Estate:
We will need a certified copy of the appointment
of personal representative filed with the Alaska Superior Court.
If paperwork is in order then the transfer of the property
by a Personal Representative's deed and an assignment can be
done.
If property is held by husband and wife, it
can transfer with a copy of the Death Certificate (AS 34.15.110
- 34.15.140). Link
to Alaska Statutes
Assignment of Property
to a Trust:
The first step required is to submit for review
a copy of the trust agreement. After our review we may require
additional paperwork. If paperwork is in order then the transfer
of the property by an assignment can be done. The trustor and
trustee will need to fill out assignment forms.
Assignment of Leases, Subleasing
or Sub-Subleasing:
Contact:
Southcentral
Region Office (SCRO);
Northern Region Office (NRO);
or
Southeast Region Office (SERO)
to obtain the necessary Assignment Forms.
Assignment
Application Forms
Assignment Application Forms may be obtained
from any of the Department of Natural Resources
Public Information Offices.
Assignments
Fees: Non-refundable filing fee to be submitted
with application.
- Individual......$100.00
- Corporation...$200.00
- Collateral........$75.00
Authority for Contract
Assignments
Link
to Alaska Statutes: AS 09.63.010-.130, AS 38.05.920,
AS 44.50.010-.190
Link
to Alaska Regulations: 11 AAC 05.010, 11 AAC 54.320,
11 AAC 54.370
Assignment - A
transfer or making over to another of the whole of any property,
real or personal, in possession or in action, or any estate
or right therein.
Assignee - The
party to whom as assignment is made.
Assignor - The
party who transfers a right.
Collateral Assignment - A
security interest in a sale contract given by the purchaser
to a third party.
Good Standing - The
purchaser is in compliance with all terms and conditions of
the contract and all payments and fees have been received.
Release - The
relinquishment or concession of a collateral assignment by
the secured party.
It is the policy of this Division that no sale
contract will be subordinated to a Deed of Trust or other such
loan agreement.
It is the responsibility of the Department of
Natural Resources to plan and manage state-owned lands specifically
for both private and public use. After careful consideration
and adjudication, lands designated for disposal to the private
and public sectors are conveyed by a title document called
a patent, or sometimes by a quitclaim deed.
Prior to issuing a patent certain tasks must
be completed to ensure the customer receives good and clear
title.
After a customer has received a patent (or deed)
it is the customer's responsibility to protect interests in
the property by recording the document.
Listed below are answers to general questions
about payments to the Department of Natural Resources for land
sale contracts and leases. The specific provisions that apply
to you are in your lease or sale contract. A copy of the lease
or sale contract was given to you when it was approved.
How
much are my payments and when are they due? Your
regular payment date and amount are specified in your contract
or lease. A late fee is assessed from the original due
date for any payment received more than 10 days after the
due date (for specific details on late fees refer to your
lease or contract).
Will
I receive a bill or reminder when my payment is due? The
Department sends out courtesy notices about 30 days before
a payment is due. Failure to receive a courtesy notice
does not release you from the responsibility to make a
timely payment. You must keep Contract Administration advised
of your current mailing address. All change of address
notifications must be in writing and signed. Click here
for the Contract Administration Unit Address
and Phone Number.
Will
I receive a receipt? Not if you pay by mail.
If you pay in person, receipts are automatically issued
for cash payments, and you can request a receipt if you
pay by check.
How
is my payment applied toward my contract or lease? Contract
payments apply first towards any late fees, then towards
interest owed, and any remainder reduces the principal
balance. Lease payments apply first towards any late fees/service
charges and any remainder towards rental.
Can
I make additional principal payments on my contract? Yes.
Unless specified otherwise, any money received over and
above the amount due is applied to reduce your principal.
Principal reduction payments can result in less interest
being paid over the life of the agreement. Your next regularly
scheduled payment will still be due.
Can
I make advance (future) payments? Yes. You may
make your next scheduled payment in advance at any time,
but you must include specific instructions to that effect.
Can
a partial payment be made? Yes. A partial payment
(i.e. any payment less than the amount due) can be made,
but it will not prevent you from being charged a late fee
or being in default.
How
is interest charged on my contract? Interest
charges accumulate daily at the rate specified in your
contract.
How
do I find out my contracts current balance or payoff amount? Write
to the address given for mailing payments, or you can call
907-269-8500. Please allow a minimum of one week from the
date of your request to receive a written response.
Can
I receive an extension on my lease or contract payment? Payment
extensions of 90 days from the payment due date may be
granted for good cause. To request an extension, submit
a written request explaining why the extra time is needed.
This request must be submitted before the quit date stated
in your default notice. An extension does not waive late
fees or prevent a notice of default from being issued.
How
can I get a copy of my lease or contract? Call
the Public Information Center at 907-269-8400.
Will
I receive an annual statement of my account? Every
January an IRS Form 1098 is mailed to all land sale contract
holders whose accounts had any interest charges/payments
during the previous year. Statements of account are sent
to all land sale contract holders who had activity on their
account. Lease holders do not receive statements.
To
whom do I make my payment? Make checks or Money
Orders payable to: State of Alaska. Note: A fee
is charged if the bank fails to honor your check for any
reason. We deposit all checks the day received.
Where
can payments be made? Mail
payments to:
Department of Natural
Resources
Financial Services Section
550 West 7th Avenue, Suite 1410
Anchorage, AK 99501
Note: Your payment
must include your Alaska Division of Land (ADL) agreement
number.
PLEASE DO NOT MAIL CASH.
Or you may pay in
person at one of these ADNR Public Information Offices:
Department of Natural Resources
Public Information Center
550 West 7th Avenue, Suite 1260
Anchorage, AK 99501
Department of Natural Resources
Public Information Office
3700 Airport Way
Fairbanks, AK 99709-4699
Department of Natural Resources
Public Information Office
400 Willoughby Avenue 4th Floor
Juneau, AK 99801
Department of Natural Resources
Public Information Office
1800 Glenn Highway Suite 12
Palmer, AK 99645-0949
