Property Ownership
The Alaska Native Claims Settlement Act (ANCSA) of 1971 primarily:
ACreated reservations for Alaska Native peoples
BSettled Alaska Native land claims and conveyed land and money to Alaska Native corporations✓ Correct
CProhibited development on all Alaska Native lands
DEstablished the Alaska Housing Finance Corporation
Explanation
ANCSA extinguished Alaska Native aboriginal land claims and transferred approximately 44 million acres and nearly $1 billion to Alaska Native regional and village corporations in exchange.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
LienA 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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