Guam § 50209 - Conversion of Property into Cash; Sale.
Full text of Guam Guam Code Annotated § 50209 — Conversion of Property into Cash; Sale., with citation guidance and answers to common questions.
§ 50209. Conversion of Property into Cash; Sale.
The assignee shall as speedily as possible convert the estate, real and
personal, into money. He shall keep a regular account of all moneys
received by him as assignee, to which every creditor or other person
interested therein may, at all reasonable times, have access. No private sales
of any property of the estate of an insolvent debtor shall be valid unless
made under the order of the court, upon a petition in writing, which shall set
forth the facts showing it to be necessary. Upon filing the petition, notice of
the hearing thereof of at least ten (10) days shall be given by publication
and mailing, in the same manner as is provided in § 50105. If it appears that
a private sale is for the best interests of the estate, the court shall order it to
be made.
Source: official Guam text · Last verified 2026-08-27
Frequently Asked Questions About Guam § 50209
What does Guam Code Annotated § 50209 cover?
Section 50209 ("Conversion of Property into Cash; Sale.") is part of the Guam Code Annotated, the codified statutory law of Guam. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Guam § 50209?
A common citation format is "Guam Code Annotated § 50209" (Guam). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Guam law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Guam official source linked on this page or consult a licensed Guam attorney.
How does Guam § 50209 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Guam can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Guam.