21 Guam Code Ann. § 76107
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Terms Used In 21 Guam Code Ann. § 76107
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- 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
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
In the case of real property, the interest acquired shall be limited to that estate, agency, interest, or term deemed by the Department to be reasonably necessary for the continued protection or preservation of the property. The Department may acquire the fee simple title, but where it finds that a lesser interest, including any development right, negative or affirmative easement in gross or appurtenant covenant, lease, or other contractual right of or to any real property, to be the most practical and economical method of protecting and preserving historical property, the lesser interest may be acquired.
SOURCE: GC § 13985.6 enacted by P.L. 12-126 (May 3, 1974).