21 Guam Code Ann. § 13104
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In 21 Guam Code Ann. § 13104
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Whenever any conveyance or deed of trust relating to real property or any interest therein is given as security for money loaned, and such conveyance contains a power of sale, or a right in the vendor to repurchase, such conveyance or deed of trust shall be held and considered a mortgage, and subjects the parties or their assignees or successors to the same rights and obligation as that of parties to a mortgage.
SOURCE: CC ‘858.
SOURCE: CC ‘858.