19 Guam Code Ann. § 6106
Terms Used In 19 Guam Code Ann. § 6106
- Contract: A legal written agreement that becomes binding when signed.
- Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Tenancy in common: A type of property ownership in which two or more individuals have an undivided interest in property. At the death of one tenant in common, his (her) fractional percentage of ownership in the property passes to the decedent
COL1242015
19 Guam Code Ann. PERSONAL RELATIONS
CH. 6 COMMUNITY PROPERTY
separate real property owned by the spouses as co-tenants in joint tenancy or tenancy in common if the initial term of the lease, together with any option or extension contained therein or provided for contemporaneously, may exceed five (5) years, or if the lease is for an indefinite term. Any transfer, conveyance, encumbrance or lease or contract to transfer, convey, encumber or lease any interest in the community real property or in separate real property owned by the spouses as co-tenants in joint tenancy or tenancy in common, attempted to be made by either spouse alone in violation of the provisions of this Section shall be void and of no effect, except that either spouse may transfer, convey, encumber or lease directly to the other without the other joining therein.
Except as provided above, either spouse may transfer, convey, encumber or lease separate real property without the other’s joinder.
(b) Nothing in this Section shall preclude a married person from authorizing his spouse or another person to transfer, convey, encumber or lease, or contract to transfer, convey, encumber or lease, any community real property, or separate real property owned by the spouses as co-tenants in joint tenancy or tenancy in common, pursuant to a validly executed power of attorney.
SOURCE: CC § 160 enacted by P.L. 15-113:2.