15 Guam Code Ann. § 2211
Terms Used In 15 Guam Code Ann. § 2211
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Decedent: A deceased person.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Personal property: All property that is not real property.
- Probate: Proving a will
- Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
- 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.
(b) A personal representative, as such, may institute and maintain an action on the bond of any former personal representative of the same estate, for the use and benefit of all parties interested in the estate.
(c) If a decedent, in his lifetime, conveyed any real or personal property, or any interest therein, with intent to defraud his creditors, or to avoid any obligation due another, or made a conveyance that by law is void as against creditors, or made a gift of property in view of death, and there is a deficiency of assets in the hands of the personal representative, the personal representative must, on the application of any creditor, commence and prosecute to final judgment an action for the recovery of
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15 Guam Code Ann. ESTATES AND PROBATE
CH. 22 POWERS AND DUTIES OF EXECUTORS, ADMINISTRATORS WITH THE WILL ANNEXED AND ADMINISTRATORS
the same for the benefit of the creditors. A creditor making such applica- tion must pay such part of the cost and expenses of the suit, or give such security to the personal representative therefor, as the Superior Court of Guam shall direct. All property recovered in an action brought under the provisions of this subsection must be sold for the payment of debts, in the same manner as if the decedent had died seised or possessed thereof, and the proceeds of such sale must be appropriated in payment of the debts of the decedent in the same manner as other property in the hands of the personal representative. The remainder of the proceeds, after all the debts of the decedent have been paid, must be paid to the person from whom such property was recovered.
SOURCE: Subsection (a): California Probate Code, § 575 (as amended.) Subsection (b): Id., § 576. Subsection (c): Id., §§ 579, 580.
COMMENT: The only substantive change made to prior Guam law is that subsection (a) of § 2211 allows an action against the personal representative, as well as one by such representative, for the partition of property.