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Chapter 4 of Title 11 of the Kosrae State Code - The Deed of Trust.

Country/Territory
Micronesia, Fed. States
Territorial subdivision
Kosrae
Document type
Legislation
Date
2001
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 Chapter 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 Chapter. The Chapter also provides for the establishment of a loan guarantee escrow account where the beneficiary is the Farmers Home Administration.

Full text
English
Website
fsmlaw.org