Guam § 24431 - Securing Value of Contingent Future Rights or Estates or Life

§ 24431. Securing Value of Contingent Future Rights or Estates or Life

Estates.

In all cases of sales, when it appears that any person has a vested or

contingent future right or estate in any of the property sold, the court must

ascertain and settle the proportional value of such contingent or vested right

or estate, and must direct such proportion of the proceeds of the sale to be

invested, secured or paid over, in such manner as to protect the rights and

interests of the parties; or where property is subject to a life estate with

remainder over, the court may direct the entire proceeds of the sale of such

interests to be paid to a trustee to be appointed by the court, to be invested

and reinvested, the income thereof to be paid to the life tenant and the corpus

of the trust estate, upon the termination of the life estate, to be delivered or

paid to the remaindermen as in the decree determined; and the court shall

retain jurisdiction for the settlement of the accounts of such trustee and in all

matters necessary for the proper administration of such trust and final

distribution of the trust fund.