In Alaska, a property tax 'lien date' is significant because on that date:
Why Property taxes automatically attach as a lien on the property Is Correct
Answer B: Property taxes automatically attach as a lien on the property
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
People Also Study
Related Alaska Questions
- A buyer in Alaska closes on June 1. Annual property taxes are $4,380 and were paid by the seller through December 31 of the prior year. Using a 360-day year, how much does the buyer owe the seller at closing for the tax proration?Real Estate Math
- A mechanic's lien in Alaska must be filed within how many days of the last date of work or material delivery?Escrow & Title
- A buyer in Alaska closes on October 1. Annual property taxes of $3,600 have not yet been paid for the current year. Using a 360-day year (30 days per month), the seller owes the buyer a tax proration credit of:Real Estate Math
- An Alaska appraiser values a property 'as of' a specific date. This 'effective date' is significant because:Property Valuation
- An Alaska condo has an HOA fee of $375/month. Annual property taxes are $3,800 and homeowner's insurance is $1,200/year. What is the total annual PITI plus HOA (excluding P&I mortgage payments)?Real Estate Math
- An Alaska homeowner's insurance is $1,800/year, property taxes are $4,200/year, and the mortgage payment (P&I) is $1,650/month. What is the monthly PITI payment?Real Estate Math
- Proration of property taxes at closing in Alaska means:Escrow & Title
- A mechanic's lien in Alaska may be filed by:Escrow & Title
Key Terms to Know
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
ProrationThe division of ongoing property expenses (taxes, HOA dues, rents) between buyer and seller at closing based on their respective days of ownership.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Study This Topic
Practice More Alaska Real Estate Questions
1,400+ questions covering all exam topics. Start free — no signup required.
Take the Free Alaska Quiz →