18 Guam Code Ann. § 36116
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In 18 Guam Code Ann. § 36116
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
When the mortgage is executed as security for money due, or to become due, on a promissory note, bond, or other instrument, designated in the mortgage, the record of the assignment of the mortgage is not, of itself, notice to a mortgagor, his heirs or personal representatives, so as to invalidate any payment made by them, or any of them, to the person holding such note, bond, or other instrument.
SOURCE: CC § 2935.