Guam § 50553 - Exemption for Certain Property.
Full text of Guam Guam Code Annotated § 50553 — Exemption for Certain Property., with citation guidance and answers to common questions.
§ 50553. Exemption for Certain Property.
It shall be the duty of the court having jurisdiction of the proceedings,
upon petition and after hearing, to exempt and set apart, for the use and
benefit of said insolvent, such real and personal property as is by law
exempt from execution, and also a homestead; but no such petition shall be
heard as aforesaid until it is first proved that notice of the hearing of the
application therefor has been duly given by the clerk, by causing such
notice to be posted in at least three public places in the town or city at least
ten (10) days prior to the time of such hearing, which notice shall set forth
the name of said insolvent debtor, and the time and place appointed for the
hearing of such application, and shall briefly indicate the homestead sought
to be exempted or the property sought to be set aside; and the decree must
show that such proof was made to the satisfaction of the court, and shall be
conclusive evidence of that fact.
Frequently Asked Questions About Guam § 50553
What does Guam Code Annotated § 50553 cover?
Section 50553 ("Exemption for Certain Property.") 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 § 50553?
A common citation format is "Guam Code Annotated § 50553" (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 § 50553 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.