15 Guam Code Ann. § 1211
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Terms Used In 15 Guam Code Ann. § 1211
- Decedent: A deceased person.
- Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
- 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.
- Probate: Proving a will
l intangible property owned by the decedent escheats to the Government of Guam in accordance with the provisions of Section 1201 of this Title if the decedent was domiciled in Guam at the time of the decedent’s death.
SOURCE: California Probate Code, § 235.
COMMENT: The property referred to in § 1211 includes, for example, debts owed to the decedent, bank accounts, promissory notes, shares of corporate stock, dividends, wage claims, and beneficial interests in trusts. Section 1211 neither contains nor recognizes any limitation on the intangible property that escheats under its provisions. If the property was owned by a Guam domiciliary, it escheats to the Government of Guam wherever the obligor may be located and wherever the obligation might have been incurred.