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N Cal Atty
N Cal Atty, Lawyer
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Experience:  attorney at self
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Owner finance questions

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I live in Anchorage Alaska and have questions concerning renting out and or owner financing my house. I would like to rent out the house instead of selling outright (have a 3.0% rate). I would like to know what legalities or legal procedures are recommended. What type of contract and terms are appropriate etc. 

           I know these are rather ambiguous questions. Also, is it legal to demand a credit reports, employment verification, background checks, sex offender etc. and references. I would think (excluding sex offenders/references) these wouldn't be illegal, after all, the bank routinely requests this. Anyway, I am want to minimize potential risks and liabilities. Thanks - P.S. I'll probably be asleep in about 30 mins. 

The legalities and recommended procedures are covered in

If you do not already have one, you will need a Certificate of Occupancy, see Section 107 of links to both a sample lease form and a sample month to month rental agreement form designed for Alaska. Many office supply stores and real estate offices also sell preprinted lease forms. There is another one posted at,%20form%20between%20individuals.pdf

It is also very probably a requirement of your homeowners insurance policy to notify the insurer, and you will probably be required to get a landlord's insurance policy instead of the homeowners policy I assume you have now.

You can get a free consultation from some of the local landlord-tenant lawyers listed here.

Please let me know if you require additional information prior to rating my answer.

I hope this information is helpful.
N Cal Atty and 3 other Legal Specialists are ready to help you

Thank you for the Excellent rating, and thank you very much for the bonus!