Escrow & TitleIntermediateAlaska Exam

In Alaska, a 'materialman's lien' (mechanics' lien) can be filed by which of the following parties?

AOnly the general contractor, though specific requirements can vary depending on the transaction details

BAnyone who supplies labor or materials for the improvement of real property and has not been paidCorrect

COnly the property owner

DOnly licensed contractors

Why Anyone who supplies labor or materials for the improvement of real property and has not been paid Is Correct

Answer B: Anyone who supplies labor or materials for the improvement of real property and has not been paid

Alaska's mechanics' lien laws (AS 34.35) allow anyone who furnishes labor, equipment, materials, or professional services (such as architects and engineers) for the improvement of real property to file a lien if not paid.

Exam Tip: Escrow & Title

Escrow questions test the neutral third-party role and the sequence of closing events. Remember that the escrow agent acts as a dual agent for both buyer and seller and cannot advocate for either side.

Key Escrow & Title Terms in This Question

Lien

A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.

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Key Terms to Know

Lien

A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.

Appraisal

A professional estimate of a property's market value prepared by a licensed or certified appraiser.

Deed

A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).

Easement

A non-possessory right to use another person's land for a specific purpose.

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