21 Guam Code Ann. § 29171
Terms Used In 21 Guam Code Ann. § 29171
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Executor: A male person named in a will to carry out the decedent
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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.
- Probate: Proving a will
SOURCE: CC ‘1157.69. Island changed to Superior Court pursuant to
P.L. 12-85.
§ 29172. Order of Court in Making Change in Status of
Registered Land.
The court in its order or decree making such distribution, transfer, leasing, mortgaging, or other change in the status of the title of registered land, shall direct the registrar to issue a certificate of title, or to note a memorial of transaction, as the case may require, in accordance with such order or decree.
SOURCE: CC ‘1157.70.
§ 29173. Duty of Executor, Assignee, Receiver, or Other
Person Acting Under Direction of Court.
The executor, administrator, assignee, receiver, or other person acting under the direction of said court, shall file with the registrar a certified copy of such order or decree, also the deed, lease, mortgage, or other instrument executed in accordance with such order or decree, and also a certified copy of the order or decree confirming such sale, lease mortgage, or other transaction when such confirmation is required by law.
SOURCE: CC ‘1157.71.
§ 29174. Sales by Executors, Trustees in Bankruptcy or
Assignees in Insolvency.
Executors, trustees in bankruptcy, administrators, and assignees in insolvency shall have no power of sale of lands registered in their names as such without an order or court obtained for that purpose. Before any certificate can be issued to the purchaser, such sales shall be reported for confirmation to the court under whose authority such executor, administrator, or
assignee is acting, and if confirmed a duly certified copy of the order of confirmation shall be filed in the office of the registrar, and a memorial thereof entered upon certificate of title. Upon the filing of the certified copy of confirmation and entry of such memorial, the registrar shall issue a certificate to the purchaser at such sale, which certificate, in addition to the usual contents thereof, shall refer to the said order of confirmation. Such order of confirmation shall be conclusive evidence that the sale was in all respects conducted in accordance with the law, and the purchaser shall not be bound to inquire into the regularity of the proceedings, or power to make such sale.
SOURCE: CC ‘1157.72.