12 Guam Code Ann. § 4906
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In 12 Guam Code Ann. § 4906
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
The Corporation may contract to acquire and may acquire a mortgage loan or loans made by a bank, or other financial institution, to a seller who has entered a lease-to-own contract with an eligible Tenant-Purchaser for the property which is the subject of and security for such mortgage loan.