15 Guam Code Ann. § 4203
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Terms Used In 15 Guam Code Ann. § 4203
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Probate: Proving a will
l sales must be for cash or for part cash and part deferred pay- ments, the credit in no case to exceed three (3) years from the date of sale, and the terms being subject to the approval of the court. When real
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15 Guam Code Ann. ESTATES AND PROBATES
CH. 42 SALES, MORTGAGES, LEASES AND CONVEYANCES
property is sold upon deferred payments, the guardian must demand and receive from the purchasers, notes and a mortgage on the property sold, with such additional security as the court deems necessary and sufficient to secure the prompt payment of the amounts so deferred, and the interest thereon.
SOURCE: Probate Code of Guam (1970), § 1532.