Guam § 45111 - Recordation and Contents of Declaration.

§ 45111. Recordation and Contents of Declaration.

The Department of Land Management shall immediately set up the

mechanics and method by which recordation of a master deed or lease and

the declaration may be made. Provisions shall be made for the recordation

of a master deed or lease and the declaration may be made. Provisions shall

be made for the recordation of instruments affecting the individual

apartments on subsequent resales, mortgages, and other encumbrances, as is

done with all other real estate recordation; provided, that certificates of title

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shall not be issued for apartments. The declaration to which § 45103 refers

shall express the following particulars:

(a) Description of the land, whether leased or in fee simple, on which

the building or buildings and improvements are or are to be located.

(b) Description of the building or buildings, stating the number of

stories and basements, the number of apartments, and the principal materials

of which it is or they are constructed or to be constructed.

(c) The apartment number of each apartment, and a statement of its

location, approximate area, number of rooms, and immediate common

element to which it has access, and any other data necessary for its proper

identification.

(d) Description of the common elements.

(e) Description of the limited common elements, if any, stating to

which apartments their use is reserved.

(f) The percentage of undivided interests in the common elements

appertaining to each apartment and its owner for all purposes, including

voting.

(g) Statement of the purposes for which the building or buildings and

each of the apartments are intended and restricted as to use.

(h) The name of a person to receive service of process in the cases

hereinafter provided, together with the residence or place of business of the

person which shall be within the municipality in which the property is

located.

(i) Provision as to the percentage of votes by the apartment owners

which shall be determinative of whether to rebuild, repair, or restore the

property in the event of damage or destruction of all part of the property.

(j) Any further details in connection with the property which the person

executing the declaration may deem desirable to set forth consistent with

this Chapter.

(k) The method by which the declaration may be amended, consistent

with this Chapter.