21 Guam Code Ann. § 45116
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Terms Used In 21 Guam Code Ann. § 45116
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Lien: A claim against real or personal property in satisfaction of a debt.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
At time of first conveyance of lease of each apartment, every mortgage and other lien affecting both the apartment and any other apartment shall be paid and satisfied of record, or the apartment being conveyed or leased and its common interest shall be released therefrom by partial release duly recorded.
SOURCE: CC ‘1285.
SOURCE: CC ‘1285.