Sales of Personal Property: Notice; Place of Sale; Presence of

Property; Postponement; When Title Passes.

(a)Except as provided in Sections 2319, 2331 and 2333 of this Title, personal property of an estate may be sold only after notice published by the personal representative in a daily newspaper of general circulation in the territory of Guam for three

(3)consecutive days, the last of which publications is at least seven

(7)calendar days before the day on or after which the sale is to be made.

(b)The notice of sale provided in subsection

(a)of this Section shall contain the time and place of sale and a brief description of the property of the estate to be sold, and shall state whether the sale is to be a private sale or a public sale. If the sale is to be a private sale, the notice shall state a physical place at which bids or offers will be received and the date on or after which such private sale will be made; and such private sale shall not be made before that date, but must be made within six

(6)months after that date. Public sales shall be made on the steps of the courthouse of the Superior Court of Guam, or at some other public place, or at the residence or place of business of the decedent; but no public sale shall be made of any personal property of an estate which is not present at the time and place of sale, unless the Superior Court of Guam shall otherwise order. A public sale of personal property of an estate may be postponed from time to time if the personal representative deems it for the interests of all persons concerned, such postponement not to exceed in all three

(3)months. In case of such postponement, notice thereof shall be given by public declaration of the personal representative at the time and place appointed for such public sale.

(c)Title to tangible personal property of an estate sold at public sale passes upon receipt of the purchase price and delivery of the property to the buyer, but the personal representative is responsible for the actual value of such property unless, after making a sworn return of sale, and on proper showing, the Superior Court shall approve the sale; provided, that if such property is sold to the personal representative, title thereto shall not pass unless such sale is reported to the Superior Court and confirmed by the Superior Court as provided in this Chapter.