15 Guam Code Ann. § 2549
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Terms Used In 15 Guam Code Ann. § 2549
- Decedent: A deceased person.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. 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.
- Probate: Proving a will
it shall appear to be to the advantage of the estate for the personal representative to accept a deed of property which is subject to a mortgage or other lien, in lieu of foreclosure of such mortgage or other lien, the Superior Court may authorize, upon such terms and conditions as may be imposed by the Superior Court, the acceptance of such deed, conveying such property to the heirs or devisees of the decedent, subject to administration, upon the petition of the personal representative or of any person interested in the estate, after notice of the hearing given in the manner provided in Section 3401 of this Title.
SOURCE: California Probate Code, § 718.6.