Property OwnershipIntermediateAlaska Exam

In Alaska, land held in trust for Alaska Native peoples under the Alaska Native Claims Settlement Act (ANCSA) is primarily managed by:

AThe Bureau of Land Management

BAlaska Native CorporationsCorrect

CThe Alaska Department of Natural Resources

DFederal Indian Reservations

Why Alaska Native Corporations Is Correct

Answer B: Alaska Native Corporations

The Alaska Native Claims Settlement Act of 1971 (ANCSA) established Alaska Native Corporations (ANCs) to receive and manage lands and financial compensation. Unlike the lower 48 states, Alaska has no traditional reservation system — ANCs manage most Native-owned land.

Exam Tip: Property Ownership

Property ownership questions test the bundle of rights and different forms of ownership. Know the differences between joint tenancy, tenancy in common, and community property, including the right of survivorship.

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Key Terms to Know

Deed of Trust

A security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.

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.

Encumbrance

Any claim, lien, charge, or liability attached to real property that affects its value or limits its use.