21 Guam Code Ann. § 29161
Terms Used In 21 Guam Code Ann. § 29161
- 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
- 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.
SOURCE: CC ‘1157.59.
§ 29162. Authority of Registrar Where Instrument not
Executed in Sufficient Number of Parts.
When an instrument is not executed in a sufficient number of parts for the convenience of the parties, the registrar may make and deliver to each of the parties entitled thereto certified copiesof the instrument filed in his office, with the endorsements thereon, marking the same the same mortgagee’s certified copy, lessor’s certified copy, or as the case may be, and shall note upon the register the fact of issuing such copies. Such certified copies shall have the same force and effect and be treated as duplicates.
SOURCE: CC ‘1157.60.
§ 29163. Proceedings Where Holder of Charge on Land
Desires to Transfer or Assign Same.
The holder of any charge upon registered land, which is otherwise legally transferable, desiring to transfer the same or any part thereof, may execute an assignment of the whole or any part thereof. The assignment of a part only must state whether the part transferred is to be given priority, to be deferred or to rank equally, with the remaining part. Upon such assignment being filed in the office of the registrar and the production of the duplicate or certified copy of the instrument creating the charge held by the assignor, the registrar shall enter in the register opposite the charge a memorial of such transfer, and how it ranks with a reference to the assignment by its file number; he shall also note upon the instrument on file in his office intended to be transferred, and upon the duplicate or certified copy thereof produced, the volume and folio where the memorial is entered, with the date of the entry. The transferee shall be entitled to have a certified copy of the instrument or transfer, with the endorsement thereon, and in case of the transfer of the entire charge, the duplicate or certified copy of the instrument creating the charge.
SOURCE: CC ‘1157.61.