21 Guam Code Ann. § 39113
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Terms Used In 21 Guam Code Ann. § 39113
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
shall not be necessary to perform any of the following acts to correct the record with respect to the title of real estate, in order to make such title marketable, in any instances where the defect or omission has existed of record for more than a period of twenty (20) years, a missing original instrument was filed more than twenty (20) years previously, and the record does not show that any action has been commenced with reference thereto, to wit:
(a) Make any showing or explanation as to the absence of a corporate, Notary or other official seal of any kind; and after twenty (20) years from the date of the instrument, such person purporting to act as a corporate official, Notary Public or other official shall be presumed to have been authorized to act in the same manner as though the proper seal had been affixed to said instrument;
(b) Make any showing or explanation as to interest or lack of interest of anyone encumbering real estate to which the recorder’s records do not show such person to have had title;
(c) Make any showing or explanation where a reference has been made in any instrument to a mortgage, and no mortgage answering such description is shown to have been of record at such time;
(d) Make any showing or explanation as the martial status of a person by reason of the omission of a description of such marital status from either the body of the instrument or the acknowledgment;
(e) Obtain any conveyance, release or explanation by reason of an option which, under its terms, required that it be exercised more than twenty (20) years theretofore;
(f) Undertake any court proceedings or make any showing or explanation for the disappearance, loss or destruction of an original instrument when the entries in the book or books in the possession of the recorder show that the missing instrument was filed, the nature of the instrument, the number of the instrument and the date when filed, the parties
(a) Make any showing or explanation as to the absence of a corporate, Notary or other official seal of any kind; and after twenty (20) years from the date of the instrument, such person purporting to act as a corporate official, Notary Public or other official shall be presumed to have been authorized to act in the same manner as though the proper seal had been affixed to said instrument;
(b) Make any showing or explanation as to interest or lack of interest of anyone encumbering real estate to which the recorder’s records do not show such person to have had title;
(c) Make any showing or explanation where a reference has been made in any instrument to a mortgage, and no mortgage answering such description is shown to have been of record at such time;
(d) Make any showing or explanation as the martial status of a person by reason of the omission of a description of such marital status from either the body of the instrument or the acknowledgment;
(e) Obtain any conveyance, release or explanation by reason of an option which, under its terms, required that it be exercised more than twenty (20) years theretofore;
(f) Undertake any court proceedings or make any showing or explanation for the disappearance, loss or destruction of an original instrument when the entries in the book or books in the possession of the recorder show that the missing instrument was filed, the nature of the instrument, the number of the instrument and the date when filed, the parties
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21 Guam Code Ann. REAL PROPERTY
CH. 39 MARKETABLE TITLE ACT
to the instrument, the interest in real estate affected by the instrument, and a description of the land sufficient for its identification in the chain of title. In such case the recorder’s records shall have the same legal effect as the missing instrument would have had.
SOURCE: CC ‘1218.12.
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