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Terms Used In 15 Guam Code Ann. § 2377

  • Decedent: A deceased person.
  • 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
  • Probate: Proving a will
the time appointed pursuant to the provisions of Section 2375 of this Title, the Superior Court, upon proof that due notice of the hearing has been given, shall hear the petition referred to in Section 2375 of this Title and any objection that might have been filed or presented, and shall entertain and consider any other offer made, in good faith, at the hearing, to lease the same property on more favorable terms; and, if the Superior Court is satisfied that it will be to the advantage of the estate, it shall make an order authorizing the personal representative to make such lease to the person and on the terms stated in the order; provided, however, that the Superior Court shall not make an order authorizing the personal representative to make such lease to any person other than the lessee named in the petition, unless the offer made at the hearing is acceptable to the personal representative. The order shall set forth the minimum rental and the period of the lease, which must not be longer than ten (10) years, except as otherwise provided in Section 2379 of this Title. If the lease covers additional property owned by other persons or an undivided interest of the decedent, or other interest of the decedent less than the entire ownership of the property, it may provide for division of rental in the proportion that the land or interest of each owner bears to the total area of the land or total interest covered by such lease. A certified copy of the order referred to in this Section shall be recorded in the Department of Land Management of the Government of Guam.

SOURCE: California Probate Code, § 842 (as amended, omitting provisions covering oil, gas and petrochemical leases and leases for asparagus growing.)