§ 2329 Sales in General: Limitation of Actions; Minors and Others\r\nUnder Legal Disability
§ 2365 Borrowing Money and Mortgaging Estate Property: Petition; Filing; Contents; Notice and Hearing
§ 2301 Definition of Personal Representative
§ 2307 Dealings in General: Order of Abatement of Legacies
§ 2309 Sales in General: Sale of Property Devised or Bequeathed; Contribution Between Devisees and Legatees
§ 2311 Sales in General: Sale to Pay Debts, Legacies, Family Allowance or Expenses; Selection of Property; Manner of Sale; Interest Which may be Sold
§ 2313 Sales in General: Manner of Sale and Minimum Price of\r\nProperty Sold as a Unit; Manner of Sale of Leasehold Interests
§ 2315 Sales in General: Report of Sale; Confirmation; Petition; Notice of Hearing; Vacation of Confirmation Order on Default of Purchaser; Resale; Procedure
§ 2317 Sales in General: Hearing on Confirmation; Objections to Confirmation; Proof of Notice; New Offer for Personal Property; Acceptance of Offer or Order of New Sale; Exceptions
§ 2319 Sales in General: Sales Under Direction of Will; Procedure
§ 2321 Sales in General: Petition for Order Requiring Sale; Setting; Citation to Personal Representative
§ 2325 Sales in General: Contracts to Find Purchaser; Commission; Exclusive Right to Sell; Effect of Confirmation; Liability on Contract; Sales on Increased Bid at Confirmation Hearing; Commission
§ 2327 Sales in General: Sales of Encumbered Property; Application of Purchase Money; Discharge of Encumbrance; Disposal of Surplus; Purchase by Mortgage or Lien Holder; Procedure
§ 2329 v2 Sales in General: Limitation of Actions; Minors and Others\r\nUnder Legal Disability
§ 2333 Sales of Personal Property: Stocks, Bonds and Other Securities: Sale Without Confirmation; Notice Shortened or Dispensed With by Order; Completion of Incomplete Short Sale; Sale of Subscription Rights
§ 2335 Sales of Personal Property: Notice; Place of Sale; Presence of\r\nProperty; Postponement; When Title Passes
§ 2337 Sales of Personal Property: Terms of Sale; Confirmation of\r\nSale; Procedure
§ 2339 Sales of Personal Property: Partnership Interests; Inquiry by Court at Confirmation Hearing
§ 2341 Sales of Real Property: Posting and Publication of Notice of\r\nSale; Contents of Notice
§ 2343 Sales of Real Property: Public Auction or Private Sale; Procedure for Public Auctions; Procedure for Private Sales; Postponement of Sales
§ 2345 Sales of Real Property: Property Sold by Private Sale: Confirmation; Minimum Price; Reappraisal; New Appraiser
§ 2347 Sales of Real Property: Confirmation Hearing on Private Sale; Increased Bids; Agent\’s Commission; Determination of Bid Amount
§ 2349 Sales of Real Property: Confirmation of Private Sales; Credit\r\nTerms; Consideration of Higher Offers
§ 2351 Sales of Real Property: Conveyances After Confirmation; Contents; Recording; Effect
§ 2353 Sales of Real Property: Credit Sales; Secured Notes; Sale of\r\nJoint Interests
§ 2355 Sales of Real Property: Double Liability for Fraudulent Sale
§ 2357 Sale of Contract to Purchase: Method of Sale
§ 2359 Sale of Contract to Purchase: Sale Subject to Payments Due and to Become Due; Purchaser\’s Bond
§ 2363 Borrowing Money and Mortgaging Estate Property: Authorization; Security; Procedure on Estate Less Than Entire Ownership
§ 2365 v2 Borrowing Money and Mortgaging Estate Property: Petition; Filing; Contents; Notice and Hearing
§ 2371 Borrowing Money and Mortgaging Estate Property: Effectiveness of Encumbrance; Jurisdiction; Effect of Error or Irregularities; Deficiencies
§ 2373 Leasing Estate Property: Authorization
§ 2375 Leasing Estate Property: Petition; Filing; Contents; Setting and Notice
§ 2377 Leasing Estate Property: Hearing; Order, Conditions; Duration; Partial Interests; Recording
§ 2379 Leasing Estate Property: Leases Over Ten Years; Hearing
§ 2383 Leasing Estate Property: Lease Without Court Order
§ 2385 Conveyance to Complete Contract: Authorization
§ 2387 Conveyance to Complete Contract: Petition; Filing; Setting; Notice
§ 2389 Conveyance to Complete Contract: Hearing and Order
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Terms Used In Guam Code > Title 15 > Chapter 23 - Personal Representative's Dealings with Estate Property

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Contract: A legal written agreement that becomes binding when signed.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Decedent: A deceased person.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Devise: To gift property by will.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Executor: A male person named in a will to carry out the decedent
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Fraud: Intentional deception resulting in injury to another.
  • Germane: On the subject of the pending bill or other business; a strict standard of relevance.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • 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
  • Legacy: A gift of property made by will.
  • Legatee: A beneficiary of a decedent
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • 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.
  • 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.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Personal property: All property that is not real property.
  • Probate: Proving a will
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Statute: A law passed by a legislature.
  • Testate: To die leaving a will.
  • Testator: A male person who leaves a will at death.