21 Guam Code Ann. § 3119
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Terms Used In 21 Guam Code Ann. § 3119
- Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
When a remainder is limited to the heirs, or heirs of body, of a person to whom a life estate in the same property is given, the persons who, on the termination of the life estate, are the successors or heirs of the body of the owner for life, are entitled to take by virtue of the remainder so limited to them, and not as mere successors of the owner for life.
SOURCE: CC ‘779.
SOURCE: CC ‘779.
COL120106
21 Guam Code Ann. REAL PROPERTY
CH. 3 ESTATES IN GENERAL