21 Guam Code Ann. § 47102
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Terms Used In 21 Guam Code Ann. § 47102
- Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(a) A time-share estate is an estate in real property and has the character and incidents of an estate in fee simple at common law or an estate for years, if a leasehold, except as expressly modified by this Chapter. The provisions of this Chapter shall supersede any contrary rule at common law.
(b) A document transferring or encumbering a time-share estate in real property shall not be rejected for recordation because of the nature or duration of that estate or interest.
(b) A document transferring or encumbering a time-share estate in real property shall not be rejected for recordation because of the nature or duration of that estate or interest.