Guam § 5405 - Sale of Lots.

§ 5405. Sale of Lots.

Notwithstanding any law, rule or regulation to the contrary, the

Authority is authorized to sell lots within the subdivision established by

this Chapter for less than fair market value. Such sales shall be made

only to either a single person or a family who are bona fide residents of

Guam. Such sales shall be in accordance with and limited to the

following preferences:

(a) First preference shall be given to those families who were,

on August 25, 1978, residing within the subdivision area under a

Land Management Land Use Permit and continue to reside there, or

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to families who reside under a Land Management Land Use Permit

or Department of Agriculture Land Use Permit on government land

which has been designated as a water conservation area as indicated

on the Bureau of Planning Land and Water Natural Resources Map

who are without fee title to any real property, in or out of the

territory, and whose income does not exceed the limits established

for a low-income family or a single person residing in low rent

housing projects operated by the Authority.

(b) Second preference shall be given to those families or heads

of a household, as defined by the U.S. Internal Revenue Code, who

are, pursuant to a Land Management Land Use Permit, residing on

government land designated as a low density area on the Bureau of

Planning Land and Natural Resources Map, are without fee title to

any real property in or out of the territory, and whose income does

not exceed the limits established for a low-income family or a head

of a household, as defined by the U.S. Internal Revenue Code,

residing in low rent housing projects operated by the Authority.

(c) Third preference shall be given to the other eligible families

residing on government land under a Land Management Land Use

permit who are without fee title to any real property in or out of the

territory, and whose income does not exceed the limits established

for a low-income family or a head of a household, as defined by the

U.S. Internal Revenue Code, residing in low rent housing projects

operated by the Authority.

(d) Fourth preference shall be given to tenants of low-rent

housing programs operated by the Guam Housing Corporation or

the Authority who are without fee title to any real property in or out

of the territory, and whose income does not exceed the limits

established for a low-income family or a head of a household, as

defined by the U.S. Internal Revenue Code, residing in low rent

housing projects operated by the Authority.

(e) Except for those families who were on August 25, 1978,

residing within the As-Tumbo Subdivision, in carrying out the

provisions of this section, the Authority shall require a sworn

statement from each applicant except first preference applicants as

to such applicant’s ownership of land in Guam or elsewhere. Each

deed shall be subject to a right of reverter to the Authority if

(1) such statement on non-ownership was false or

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(2) the grantee(s) sells or leases to a third party any of the

property after the date of execution of the deed.

(f) Families who reside in water conservation areas under the

First Preference, and those eligible under the Second, Third and

Fourth Preferences set out in this Section 13944 shall be chosen by

lottery to be conducted no later than June 30, 1990.