Guam § 29163 - Proceedings Where Holder of Charge on Land

§ 29163. Proceedings Where Holder of Charge on Land

Desires to Transfer or Assign Same.

The holder of any charge upon registered land, which is

otherwise legally transferable, desiring to transfer the same or any

part thereof, may execute an assignment of the whole or any part

thereof. The assignment of a part only must state whether the part

transferred is to be given priority, to be deferred or to rank equally,

with the remaining part. Upon such assignment being filed in the

office of the registrar and the production of the duplicate or

certified copy of the instrument creating the charge held by the

assignor, the registrar shall enter in the register opposite the charge

a memorial of such transfer, and how it ranks with a reference to

the assignment by its file number; he shall also note upon the

instrument on file in his office intended to be transferred, and upon

the duplicate or certified copy thereof produced, the volume and

folio where the memorial is entered, with the date of the entry.

The transferee shall be entitled to have a certified copy of the

instrument or transfer, with the endorsement thereon, and in case

of the transfer of the entire charge, the duplicate or certified copy

of the instrument creating the charge.