19 Guam Code Ann. § 40306
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Terms Used In 19 Guam Code Ann. § 40306
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Grantor: The person who establishes a trust and places property into it.
A grant may be deposited by the grantor with a third person, to be delivered on performance of a condition and, on delivery by the depositary, it will take effect. While in possession of the third person, and subject to condition, it is called an escrow.
SOURCE: CC ‘1057.
SOURCE: CC ‘1057.