18 Guam Code Ann. § 36118
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Terms Used In 18 Guam Code Ann. § 36118
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgagee: The person to whom property is mortgaged and who has loaned the money.
A recorded mortgage must be discharged upon the record by the officer having custody thereof, on the presentation to him of a certificate signed by the mortgagee, his personal representatives or assigns, acknowledged or proved and certified as prescribed by Title 21 Guam Code Ann., Chapter 33, stating that the mortgage has been paid, satisfied or discharged.
SOURCE: CC § 2939; amended by P.L. 5-54.