19 Guam Code Ann. § 6107
Terms Used In 19 Guam Code Ann. § 6107
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Personal property: All property that is not real property.
tion, either spouse alone has full power to manage, control, dispose of and encumber the entire community personal property.
(b)(1) If only one spouse is named in a document evidencing ownership of community personal property then only the spouse so named may manage, control, dispose of or encumber such property.
(2) If only one spouse is named or designated in a written agreement between that spouse and a third party as having sole authority to manage, control, dispose of or encumber the community personal property which is described in or which is the subject of the agreement, only the spouse so named may manage, control, dispose of or encumber such property.
(3) This Subsection shall apply whether the agreement was executed prior to or after July 1, 1980.
COL1242015
19 Guam Code Ann. PERSONAL RELATIONS
CH. 6 COMMUNITY PROPERTY
(c)(1) If both spouses are named in a document evidencing ownership of community personal property then both spouses must join to dispose of or encumber such property.
(2) If both spouses are named or designated in a written agreement with a third party as having joint authority to dispose of or encumber the community personal property which is described in or the subject of the agreement then both spouses must join to dispose of or encumber such property.
(3) This Subsection shall apply whether the agreement was executed prior to or after July 1, 1980.
(d)(1) In a document evidencing ownership of community personal property where the names of the spouses are joined by the word, or, or by the words, and/or, either spouse alone may dispose of or encumber such property.
(2) In a document evidencing ownership of community personal property where the names of the spouses are joined by the word, and, both spouses must join to dispose of or encumber such property.
(e) A spouse may not make a gift of or dispose of community personal property without a valuable consideration, without the written consent of the other spouse.
(f) A spouse may not sell, convey or encumber the furniture, furnishings or fittings of the home, or the clothing or wearing apparel of the other spouse or minor children which is community personal property, without the written consent of the other spouse.
(g) Each spouse shall act in good faith with respect to the other spouse in the management and control of the community personal property.
SOURCE: CC § 161 enacted by P.L. 15-113:2.