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Statutes

The lessor or the lessee may remove the goods on default, expiration, termination, or cancellation of the lease agreement but subject to the lease agreement; or if necessary to enforce other rights and remedies of the lessor or the lessee. If the interest of a lessor of fixtures, including the lessor's residual interest, has priority over all conflicting interests of all owners and encumbrances of the real estate, the lessor or the lessee may remove the goods from the real estate, free and clear of all conflicting interests of all owners and encumbrancers of the real estate, but the lessor or the lessee must reimburse an encumbrancer or owner of the real estate who is not the lessee and who has not otherwise agreed, for the cost of repair of physical injury, but not for a diminution in value of the real estate caused by the absence of the goods removed or by a necessity of replacing them. A person entitled to reimbursement may refuse permission to remove until the party seeking removal gives adequate security for the performance of this obligation. (AS 45.12.309)

Cases

Comments

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Contributors

Michael J. Parise, Esq.

The statutory information was edited and reviewed with the support of MultiState

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