Title 21, Real Property

The bylaws shall provide for at least the following: (a) The election of a Board of Directors, the number of persons constituting the same, and that the terms of at least one-third (1/3) of the directors shall expire annually; the powers and duties of the Board; the compensation,…

Examination. The manager or Board of Directors shall keep detailed, accurate records in chronological order, of the receipts and expenditures affecting the common elements, specifying and itemizing the maintenance and repair expenses of the common elements and any other expenses …

Apartment; Conveyance to Board of Directors. No apartment owner may exempt himself from liability for his contribution towards the common expenses by waiver of the use or enjoyment of any of the common elements or by abandonment of his apartment. Subject to such terms and conditi…

The laws relating to home exemptions from property taxes are applicable to the individual apartments, which shall have the benefit of home exemption in those cases where the owner of single family dwelling would qualify. Property taxes shall be assessed on and collected on the in…

(a) All sums assessed by the association of apartment owners but unpaid for the share of the common expenses chargeable to any apartment constitute a lien on the apartment prior to all other liens, except only (l) liens for a taxes and assessments lawfully imposed by governmental…

Unpaid Common Expenses. In a voluntary conveyance, the grantee of an apartment is jointly and severally liable with the grantor for all unpaid assessments against the latter for his share of the common expenses up to the time of the grant or conveyance, without, prejudice to the …

The manager or Board of Directors, if required by the declaration, bylaws, or by a majority of the apartment owners, shall obtain insurance for the property against loss or damage by fire and such other hazards under such terms and for such amounts as shall be required or request…

Without limiting the rights of any apartment owner, actions may be brought by the manager or Board of Directors, in either case in the discretion of the Board of Directors, on behalf of two or more of the apartment owners, as their respective interests may appear, with respect to…

(a) All apartment owners, tenants of such owners, employees of owners and tenants, or any other persons that may in any manner use property or any part thereof submitted to this Chapter are subject to this Chapter and to the declaration and bylaws of the association of apartment …

Prior to the time when a condominium project is to be offered for sale in Guam, the developer shall notify the Commission in writing of his intention to sell such offerings. SOURCE: CC '1298C.

The notice of intention shall be accompanied by a fee of One Hundred Dollars ($100.00) and by a verified copy of a questionnaire properly filled in. The questionnaire will be in such form and content as will require full disclosure of all material facts reasonably available. All …

After appropriate notification has been made pursuant to '§ 45129 and 45130, an inspection of the condominium project may be made by the Commission. SOURCE: CC '1300.

When an inspection is to be made of projects, the notice of intention shall be accompanied by the filing fee, together with an amount estimated by the Commission to be necessary to cover the actual expenses of the inspection, not to exceed Forty Dollars ($40.00) a day for each da…

The Commission may waive initial inspection when, in its opinion, a preliminary or final public report can be substantially drafted and issued from the contents of the questionnaire and other or subsequent inquiries. Failure of the Commission to notify the developer of its intent…

When the Commission makes an examination of any project, it shall make a public report of its findings, which shall contain all material facts reasonably available. A public report shall neither be construed to be an approval nor disapproval of a project. No final public report f…

A preliminary public report may be issued by the Commission upon receipt of a notice of intention, the filing of which is complete except for some particular requirement, or requirements, which is, or are, at the time not fulfilled but which may reasonably be expected to be compl…

Preliminary public reports may not be used for selling under a contract for the sale of a condominium unit unless the developer of the project has filed with the Commission those documents and exhibits required to be submitted with the notification of intention required by § 4512…

Purchaser's funds obtained prior to issuance of final reports shall be refunded if there is any change in the condominium building plans subsequent to execution of the contract requiring approval of the Building Official, unless purchaser's written approval or acceptance of the s…

Rights under contracts of sale of condominium units under a preliminary public report are not enforceable against purchasers until purchasers have had a full opportunity to read the Commission's final public report on the project, and to obtain a refund of any moneys paid as well…

If the final public report is not issued within one (1) year from the date of issuance of the preliminary report, purchasers are entitled to a refund of all moneys paid by the purchasers thereunder without further obligation. SOURCE: CC '1308.

All moneys paid by purchasers prior to issuance of final reports shall be deposited in trust under escrow arrangement with instructions that no disbursements shall be made from such trust funds on behalf of the seller until the contract has become effective, and the requirements …

The developer or any other person offering any unit in a condominium project prior to completion of its construction shall not enter into a binding contract or agreement for the sale or resale thereof until: (a) A true copy of the Commission's final public report thereon with all…

If after a final public report has been issued, any circumstance occurs which would render the final public report misleading as to purchasers, or if the developer proposes to materially change the project, the developer shall stop all sales and immediately submit sufficient info…

The true copies of the Commission's public report shall be an exact reproduction of those prepared by the Commission. SOURCE: CC '1312.

When a final, preliminary or substitute public report is not issued within a reasonable time after notice of intention is properly filed pursuant to '§ 45129 and 45130, or if the developer is materially grieved by the form or content of a public report, the developer may, in writ…

No officer, agent, or employee of any company, and no other person may knowingly authorize, direct, or aid in the publication, advertisement, distribution, or circularization of any false statement or representation concerning any project offered for sale or lease, and no person …

Any person who, in any respect, violates or fails to comply with any of the provisions set forth in Sections 45129 to 45152 and 45155, or who in any other respect violates or fails, omits, or neglects to obey, observe, or comply with any rule, order, decision, demand, or requirem…

Every sale made in violation of § 45145 is voidable at the election of the purchaser; and the person making such sale and every director, officer COL070307 or agent of or for such seller, if the director, officer, or agent has personally participated or aided in any way in making…

If the Commission has reason to believe that a developer is violating any provision set forth in § 45129 to § 45152 and § 45155, or the rules and regulations of the Commission made pursuant thereto, the Commission may investigate the developer's project and examine the books, acc…

In addition to its authority under § 45150, whenever the Commission has reason to believe that any person is violating or has violated this Chapter, it shall issue and serve upon such person a complaint stating its charges in that respect, containing a notice of a hearing upon a …

Whenever the Commission believes from satisfactory evidence that any person has violated any of '§ 45129 to 45152 and 45155 or the rules and regulations of the Commission made pursuant thereto, it may conduct an investigation on such matter, and bring an action in the name of the…

All fees collected under this Chapter shall be deposited to the credit of the general fund. SOURCE: CC '1319.

Regime. Whenever he deems it proper, the Governor may adopt supplement rules and regulations governing a horizontal property regime established under this Chapter in order to implement this program. SOURCE: CC '1321.

No civil or criminal actions shall be brought by the government of Guam pursuant to this Chapter more than one (1) year after the discovery of the facts upon which such actions are based or ten (10) years after completion of the sales transaction involved, whichever has first occ…

A public report shall expire thirteen (13) months after the date of issuance, unless a supplementary report has been issued or the Commission, COL070307 upon review of the registration, issues an order extending the effective period of the report. SOURCE: CC '1323.

This Chapter is in addition and supplemental to all other provisions of the laws of Guam; provided, that this Chapter shall not change the substantive law relating to registered land. SOURCE: CC '1324. --------- COL070307 COL070307

As used in this Chapter and unless otherwise required by the context or expressly provided in any governing instruments, laws or other governmental regulations: (a) Acquisition agent means a person who by means of telephone, mail, advertisement, inducement, solicitation or otherw…

Interests. (a) A time-share estate is an estate in real property and has the character and incidents of an estate in fee simple at common law or an estate for years, if a leasehold, except as expressly modified by this Chapter. The provisions of this Chapter shall supersede any c…

Each time-share estate constitutes for purpose of title a separate estate or interest in property except for real property tax purposes.

The provisions of this Chapter shall take effect sixty (60) days after its approval as to any time-share program hereafter created or commenced and sixty (60) days after its approval as to any time-share program heretofore created or commended with respect to the requirements of …

If any provision of this Chapter or the application thereof to any person or circumstances is held invalid, the invalidity does not affect other provisions or applications of this Chapter which can be given effect without the invalid provisions or application, and to this end the…

A time-share program may be created.

Project instruments and time-share instruments creating time-share estates shall contain the following: (a) the name of the village in which the property is situation; (b) the legal description, street address and other description sufficient to identify the property; (c) identif…

The time-share instruments for a time-share estate program shall prescribe reasonable arrangements for management and operation of the time-share program and for the maintenance, repair and furnishing of units, which shall include, but need not be limited to provisions for the fo…

(a) The time-share instruments for a time-share estate program may provide for a period of time, hereafter referred to as developer control period, during which the developer or a managing agent selected by the developer may manage the time-share program and the units in the time…

time-share instruments creating time-share uses shall contain: (a) identification by name of the time-share project and street address where the time-share project is situated; (b) identification of the time periods, type of units and the units that are in the time-share program …