Alaska Bill of Sale Form 25A-R940 is a legal instrument signed and released by the Department of Transportation and Public Facilities, Alaska State during the sale of a property or structure. The buyer must complete all required formalities in advance before issuance of the form. The Department of Transportation and Public Facilities, Alaska State must advertise once a week for three consecutive weeks in the newspaper distributed near the location of the property under the sale. The buyer must submit a sealed bid for acquiring the property. In addition, the buyer must pay the property sale amount and performance bond as required by the Alaska Bill of Sale Form 25A-R940.
This Form 25A-R940 also declares that the purchaser is liable and responsible for repairs and improvements to the structure and the Department of Transportation and Public Facilities; Alaska State is not responsible to cover such expenses. The Chief Engineer, Design, and Engineering Service of the Department of Transportation and Public Facilities, Alaska State has the authority to sign and execute this Alaska Bill of Sale Form 25A-R940. The buyer must sign this document for its execution. This Alaska Bill of Sale Form 25A-R940 is legally binding on both signing authorities and parties of the sale of the structure.
Steps to Prepare Alaska Bill of Sale Form 25A-R940
- Enter project name
- Enter state project number
- Enter Federal-Aid project number
- Enter parcel number
- Enter unit number
- Enter the date in required format
- Enter buyer’s legal name
- Enter parcel number
- Enter detailed description and location of the structure or property in the space reserved in Alaska Bill of Sale Form 25A-R940
- Enter amount of sale in US dollar
- Enter amount of performance bond submitted to the Department of Transportation and Public Facilities, Alaska State
- Enter the projected date of making improvements in the required format
- The purchaser must sign in the space reserved for the same in Alaska Bill of Sale Form
- The Chief Engineer, Design, and Engineering Service of the Department of Transportation and Public Facilities, Alaska State must sign in the space reserved for the same to complete preparation of Alaska Bill of Sale Form 25A-R940
Summary
Alaska Bill of Sale Form 25A-R940 is a legal instrument signed and executed between the Department of Transportation and Public Facilities; Alaska State and the buyer during the sale of the structure advertised for invitation for bidding. The buyer must meet all prerequisites prior to the award of the bill of sale. In addition, the buyer must remit payment in required format and undertake the responsibility of structural repairs and improvements as the Department of Transportation and Public Facilities; Alaska State sells the structure as is without warranty or payment commitment of any sort.
