High Quality Content by WIKIPEDIA articles! The Alaska Native Claims Settlement Act, commonly abbreviated ANCSA, was signed into law by President Richard M. Nixon on December 23, 1971, the largest land claims settlement in United States history. ANCSA was intended to resolve the long-standing issues surrounding aboriginal land claims in Alaska, as well as to stimulate economic development throughout Alaska. The settlement extinguished Alaska Native claims to the land by transferring titles to twelve Alaska Native regional corporations and over 200 local village corporations. A thirteenth regional corporation was later created for Alaska Natives who no longer resided in Alaska.