Property OwnershipIntermediateAlaska Exam

The Alaska Native Claims Settlement Act (ANCSA) of 1971 was significant because it:

AEstablished the Alaska Homestead Act for all residents

BSettled Alaska Native land claims by conveying land and money to Native corporationsCorrect

CGave the federal government sole ownership of all subsurface rights in Alaska, in general

DCreated the Alaska Real Estate Commission

Why Settled Alaska Native land claims by conveying land and money to Native corporations Is Correct

Answer B: Settled Alaska Native land claims by conveying land and money to Native corporations

ANCSA was landmark federal legislation that settled Alaska Native land claims by conveying approximately 44 million acres and nearly $1 billion to Alaska Native regional and village corporations, replacing traditional tribal land claims.

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.