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Chapter 2 of Title 29 of the Yap State Code - Yap State Deed of Trust Act.

Country/Territory
Micronesia, Fed. States
Territorial subdivision
Yap
Document type
Legislation
Date
2000
Source
FAO, FAOLEX
Subject
Land & soil
Keyword
Land tenure Transfer Agricultural land
Geographical area
Asia and the Pacific, Micronesia, Oceania, Small Island Developing States, South Pacific
Abstract

This Act specifies rules relative to the writing, transfer, foreclosure, etc. of a deed of trust and defines legal consequences and proceedings in relation with the creation or foreclosure of a deed of trust. A transfer in trust of an estate in real property may occur to secure the performance of an obligation or the payment of a debt. A transfer does not entitle the trustee or beneficiary to the possession of the property, except as provided in this Act. The Act also provides for the establishment of a loan guarantee escrow account by trustees.

Full text
English
Website
fsmlaw.org