Under the Alaska Native Claims Settlement Act (ANCSA), approximately how many acres of land were transferred to Alaska Native regional and village corporations?
Correct Answer
B) 44 million acres
ANCSA, enacted in 1971 (43 U.S.C. § 1601 et seq.), transferred approximately 44 million acres to Alaska Native regional and village corporations. This represents one of the largest land transfers in U.S. history and is a foundational fact that Alaska real estate licensees must know because these lands carry unique ownership restrictions and title considerations.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Antitrust violations in real estate occur when competing brokerages or agents engage in practices that restrain trade, reduce competition, or harm consumers through collusion. These violations are governed by the Sherman Antitrust Act and can result in severe penalties.
Broker supervision is the legal obligation of a designated or managing broker to oversee and be accountable for the real estate activities of all salespersons and associate brokers operating under their license.
Commingling is the illegal act of mixing client funds with a broker's personal or business operating funds, while conversion is the unauthorized use of client funds for the broker's own benefit. Both are serious violations that can result in license revocation.
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