Definitions

COL120106 CH. 39 MARKETABLE T ITLE ACT

(a)A person shall be deemed to have the unbroken chain of title to an interest in land as such term is used in this Chapter when the official public records in the possession of the recorder of the Territory of Guam disclose a conveyance or other title transaction dated and recorded prior to January 1, 1935, which conveyance or other title transaction purports to create such interest in such person or his immediate or remote grantors, with nothing appearing or record purporting to divest such person and his immediate or remote grantors of such purported interest.

(b)Title transaction as used herein means any transaction affecting Title to real property, including the issuance of a certificate of title or certificate of guaranteed claim, title by will or descent from any person who held title of record at the time of his death, title by a decree or order of any court, title by tax deed, and title by trustee's, referee's, guardian's executor's, master's in chancery, and marshal's or similar officer's deed, as well as by direct conveyance.