Guam § 60304 - Security of Loans. Mortgages.
Full text of Guam Guam Code Annotated § 60304 — Security of Loans. Mortgages., with citation guidance and answers to common questions.
§ 60304. Security of Loans. Mortgages.
Any loan in excess of Five Thousand Dollars ($5,000) shall
be secured by duly recorded first mortgage upon any of the
following property within the territory:
(1) Fee simple farmland.
(2) Leaseholds of farmland where the lease has an
unexpired term of at least two (2) years longer than the term
of loan.
(3) Crops, livestock and equipment.
(4) Other chattels.
Source: official Guam text · Last verified 2026-08-27
Frequently Asked Questions About Guam § 60304
What does Guam Code Annotated § 60304 cover?
Section 60304 ("Security of Loans. Mortgages.") 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 § 60304?
A common citation format is "Guam Code Annotated § 60304" (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 § 60304 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.