18 Guam Code Ann. § 36113
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In 18 Guam Code Ann. § 36113
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
A power of sale may be conferred by a mortgagor upon the mortgagee or any other person, to be exercised after a breach of the obligation for which the mortgage is a security.
SOURCE: CC § 2932.
COL4122017
18 Guam Code Ann. BUSINESS STRUCTURE & FUNCTION
CH. 36 MORTGAGES