16 Guam Code Ann. § 7153
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Terms Used In 16 Guam Code Ann. § 7153
- 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.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
Upon the deposit of any such chattel mortgage and application for registration, and upon the payment of the fees as provided in this Title, the Department of Revenue and Taxation shall register the mortgagee, his successor or assignee as legal owner in the manner provided for the registration of motor vehicles under the provisions of this Title. The Director of Revenue and Taxation shall charge a recordation fee of Ten Dollars ($10.00).
Upon notice from the mortgagee, his successor or his assignee, as lien holder, that the lien has been paid in full, the Department of Revenue and Taxation shall record the lien release
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COL 8/23/2023
16 Guam Code Ann. VEHICLES
CH.7 VEHICLE LICENSE AND REGISTRATION
as part of the registration process. For this service, the Director of Revenue and Taxation shall charge a lien release fee of Five Dollars ($5.00).
SOURCE: GC § 23346, enacted by P.L. 1-088 (Nov. 29, 1952). Amended by P.L. 29-002:V:I:53 (May 18, 2007).