16 Guam Code Ann. § 7152
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Terms Used In 16 Guam Code Ann. § 7152
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
When the chattel mortgagee, his successor or assignee, has deposited with the Department a copy of the chattel mortgage as provided in this Title, such deposit constitutes constructive notice of the mortgage and its contents to creditors and subsequent purchasers or encumbrances.
SOURCE: GC § 23345, enacted by P.L. 1-088 (Nov. 29, 1952).