Exemptions: Decedents’ Estates: Parental Division of

Property.

(a)Article 5 of this Chapter shall not apply to land which is an asset of the estate of decedent, provided, however, that, before COL 8/23/2023 CH. 62 SUBDIVISION LAW the distribution of any such land by the court, the Guam Planner or Commission may enter his or its appearance and require street and utility easements on said land to insure lot divisions consistent with the general plan and with the provisions of § 62501.

(b)Article 5 of this Chapter shall also not apply to land which has been owned in fee simple by a person who divides said land among his living children or their descendants by way of intervivos gift; provided, however, that such land shall be deeded to said children or descendants in fee simple and said deeds shall contain alienation clauses to the effect that the children or descendants shall not give, sell, or convey in fee simple such lots for a period of at least five

(5)years; and further provided, that the Guam Planner or Commission shall require street and utility easements on said land to insure lot divisions consistent with the general plan and that the minimum size of each lot, including that retained by the grantor, if any, shall be no less than seven thousand two hundred (7,200) square feet. Where the streets and alleys have not been improved within the subdivision, the subdivider, for the purposes of having his subdivision map approved and recorded by Land Management, shall be required either to secure a bond for the said improvement, or to sign an affidavit stating to the effect that the said improvement shall be accomplished within a reasonable period. The government of Guam shall not be held responsible for making the said improvement. The deed transferring the property may provide that the children or descendants may mortgage the property for the purpose of constructing a residence on the property.