Section 3 AAC 20.300 - Taxes and assessmentsIn a transaction for the sale of land under the Act in which taxes are to be paid by either party or assessments are to be levied against the purchaser, a developer shall
(1) certify that there are no taxes, other than current taxes, owing on the property involved at the date of filing the statement of record, a consolidated statement of record, or an amendment to either;(2) provide a form of escrow accounting, satisfactory to the department, if any part of the purchaser's funds paid in or payable by the terms of the instruments disposing of the land is to be used for payment of taxes;(3) place in the escrow account 100 percent of the payments, with which to pay taxes when due, if the developer apportions real property taxes and requires a purchaser to pay the taxes in a lump sum or on a periodic basis.