Sec. 34.80.010. Characterization of escrow money.

AK Stat § 34.80.010 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

The money that is received by a settlement agent for an escrow transaction is not the property of the settlement agent and is not subject to execution, attachment, or other form of collection for a claim against the settlement agent. Escrow money may not be used for a purpose other than to fulfill the terms of the escrow transaction agreement.