Guam Code > Title 21 > Chapter 9 – Rights of Owners
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Terms Used In Guam Code > Title 21 > Chapter 9 - Rights of Owners
- Dependent: A person dependent for support upon another.
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Grantor: The person who establishes a trust and places property into it.
- 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
- Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.