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2019 Alaska Statutes
Title 34. Property
Chapter 15. Conveyances
Article 1. Form and Effect.
Sec. 34.15.090. Covenant not implied in mortgage.
Universal Citation: AK Stat § 34.15.090 (2019)
A mortgage may not be construed as implying a covenant for the payment of the sum intended to be secured by the mortgage. When there is no express covenant for payment contained in the mortgage, and no bond or other separate instrument to secure payment is given, the remedies of the mortgagee are confined to the land mentioned in the mortgage.
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