15 Guam Code Ann. § 2539
Terms Used In 15 Guam Code Ann. § 2539
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- 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.
- Probate: Proving a will
- Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
SOURCE: California Probate Code, § 715 (as amended).
§ 2541. Filing or Presenting as Prerequisite to Action; Effect of
Mortgage or Lien.
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15 Guam Code Ann. ESTATES AND PROBATE
CH. 25 PRESENTATION AND PAYMENT OF CLAIMS AGAINST THE ESTATE
No holder of a claim against an estate shall maintain an action thereon, unless the claim is first filed with the Clerk of the Superior Court or presented to the personal representative, except in the following case: an action may be brought by the holder of a mortgage or lien to enforce the same against the property of the estate subject thereto, where all recourse against any other property of the estate is expressly waived in the complaint; but no attorney’s fees shall be recovered in such action unless the claim was filed or presented as aforesaid.
SOURCE: Probate Code of Guam (1970), § 716.