7 Guam Code Ann. § 23404
Terms Used In 7 Guam Code Ann. § 23404
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- 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.
- Lien: A claim against real or personal property in satisfaction of a debt.
- 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.
(a) Such a person shall receive notice and opportunity to be heard.
(b) The Guam Superior Court shall, upon filing of the special proceeding, set the matter for a hearing no more than thirty (30) days after service of the person who purchased the assets from the judgment debtor.
(1) At the hearing, the person shall be afforded the opportunity to produce evidence of its cost in acquiring the assets.
(2) Said person shall be entitled to reimbursement of this amount.
(3) Thereafter, the Guam court shall issue a turnover order pertaining to any such purchased assets with a lien in favor of the person who originally purchased it from the judgment debtor for the purchase price of the turnover property.
(4) Upon the judgment creditor’s, or his designated agent’s, sale of the turnover property, all proceeds above the lien amount shall be used to retire the judgment debtor’s obligation.
(c) Any judgment creditor who uses this Article to collect or enforce its judgment is entitled to all costs and attorneys’ fees expended in the collection effort.
2018 NOTE: Subsection designations added pursuant to the authority of
1 Guam Code Ann. § 1606.