Alaska is a __________ property state.
Correct Answer
B) Common law
Alaska is a common law (separate property) state, meaning property acquired by one spouse is generally owned by that spouse alone. However, Alaska uniquely allows married couples to opt into community property treatment through an Alaska Community Property Trust under AS 34.77. Alaska does not recognize tenancy by the entirety.
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Related Topics & Key Terms
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Key Terms:
Related Concepts
Tenancy by the entirety is a form of co-ownership available only to married couples that includes the right of survivorship and protection from individual creditors. Neither spouse can unilaterally sell or encumber the property.
Tenancy in common is a form of co-ownership in which two or more persons hold separate, undivided interests in property without the right of survivorship. Each owner can hold unequal shares and can independently transfer their interest.
A freehold estate conveys ownership rights, while a leasehold estate grants the right to possess and use property for a specific period without ownership.
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