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Terms Used In 22 Guam Code Ann. § 57102

  • 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
  • Personal property: All property that is not real property.
(a) Rental-purchase agreements which comply with this Act are not governed by the laws relating to:

(1) a sale of a home under the Guam Homeowners’ Warranties
Act;

(2) a consumer credit sale under the Guam Uniform Commercial
Credit Code in Title 14 of the Guam Code Annotated; and
(3) a security interest as defined in 13 Guam Code Ann. ‘1201(37) and governed by Article 9 of 13 Guam Code Ann..

COL120106
22 Guam Code Ann. BUSINESS REGULATIONS
CH. 57 RENTAL PURCHASE AGREEMENTS

(b) This Act does not apply to the following:

(1) rental purchase agreements primarily for business, commercial or agricultural purposes;

(2) a lease made to any governmental agencies or instrumentalities or organizations;

(3) a lease of a safe deposit box; money or intangible personal property;
(4) a lease of an automobile, motor home, mobile home or manufactured housing; or

(5) a lease or bailment of personal property which is incidental to the lease of real property, and which does not provide that the consumer has an option to purchase the leased property.

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