Guam § 20104 - Security Transactions: Amount.

§ 20104. Security Transactions: Amount.

On every mortgage or pledge of lands, estate or property, real or

personal, whatsoever, where the same shall be made as security for the

repayment of any definite and certain sum of money loaned at the time

or previously due and owing or forborne to be paid, being payable; and

on any conveyance of a land, estate or property, whatsoever, to be sold

or otherwise converted into money, which shall be and is intended only

as security, either by express stipulation or otherwise, shall be paid a tax

of Two Dollars and Fifty Cents ($2.50) on each One Thousand Dollars

($1,000.00) or fractional part thereof; provided, that upon each and

every assignment or transfer of any mortgage, lease or renewal or

continuance of any agreement or contract by altering or otherwise, a tax

shall be collected and paid at the same rate as that imposed on the

original document except that any such assignment or transfer of any

mortgage, lease, or renewal or continuance of any agreement or contract

by altering, made within sixty (60) days of the mortgage to which the full

fees were assessed, shall be assessed at a rate of Twenty Dollars

($20.00).