11 Guam Code Ann. § 20102
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Terms Used In 11 Guam Code Ann. § 20102
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Fraud: Intentional deception resulting in injury to another.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
When there is good reason to believe that a fraud has been perpetrated or attempted through the declaration of fictitious consideration in any such conveyance, deed, instrument, or writing, the Registrar of Titles shall, from the real estate rolls, or from other reliable sources, assess the said lands, tenements, or other realty at their true market value, and the tax on such conveyance, deed, or instrument shall be assessed and collected on such true market value of the realty conveyed; and any person who, with the intent to defraud, places a fictitious valuation on any realty conveyed and subject to the tax imposed in this Chapter, or any valuation which shall be less than the actual amount of money or other valuable thing received or delivered in payment for such realty, shall, in addition to the payment of the tax assessed on the actual consideration received or true market value of the realty conveyed, forfeit and pay a sum equal to twice the amount of such tax. The Attorney General, shall bring suit for all such penalties in the
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11 Guam Code Ann. FINANCE & TAXATION
CH. 20 DOCUMENTS TAX
court having jurisdiction of the amount thereof.
SOURCE: §19101 GC.
NOTE: Island Attorney changed to Attorney General to conform with current law. See 5 Guam Code Ann., Chapter 30.