What is an interest in land?

An interest in land is a right or claim to land that is recognized by law. This can include the right to occupy, possess, or use the land, as well as the power to sell, lease, or transfer it. In Alaska, the two primary types of interests in land are legal and equitable interests. A legal interest is a right that is specifically established by a deed, contract, agreement, court order, or other applicable law. It is distinct from an equitable interest, which is derived from the common law or a trust, and is based on the principles of fairness and justice. Examples of legal interests include fee simple, life estate, and leasehold. Examples of equitable interests include easement and profit. It is important to note that any interest in land can be either legal or equitable, or both. For example, a leasehold can be both a legal and equitable interest in land.

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