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Displaying 31 - 35 of 40Chapter 1 of Title 56 of the Code of Federated States of Micronesia - Eminent Domain.
This Chapter establishes procedures to be followed by the Government of the Trust Territory in the exercise of its power to acquire real property by eminent domain, i.e. to condemn property for public use or purposes and to appropriate the ownership and possession of such property for such public use upon paying the owner a just compensation to be ascertained according to the law.The Act concerns, among other things, proceedings at the High Court, the establishment of value of land by the High Court and determination of ownership in the event of dispute.
Chapter 15 of Title 24 of the Chuuk State Code - Mortgages.
This Chapter prescribes rules regarding the establishment, recording and protection of mortgages. Its purpose is to establish a system of mortgage law in the State of Chuuk which will induce lenders to make secured commercial and residential loans and secure transparency and other rights of mortgagor. Under the provisions of this Chapter, mortgage creates a lien on the land, but does not pass title to the mortgagee.
Chapter 13 of Title 24 of the Chuuk State Code - Real Property Security Instruments Act of 1997.
This Act makes provision with respect to a deed of trust to be held by an independent authority for purposes of guaranteeing the repayment of debt and for the execution of such deed of trust and the transfer of property in the case the debt remains unpaid. The Act defines requisites and conditions for the sale of property and other rights in relation with the (execution of) a deed of trust.
Chapter 7 of Title 24 of the Chuuk State Code - State Lease Agreements.
This Chapter concerns rights over private lands previously held by the Government under “indefinite land use agreements” concluded during administration of the United States of the State of Chuuk but which are currently held to be unjust. The purpose of this Chapter is to authorize the Governor to enter into more equitable lease agreements for the retention of lands required by the Government for public use.
Chapter 1 of Title 24 of the Chuuk State Code - Tide Lands.
This Chapter concerns the procedures for the application for a permit “to excavate, fill or borrow” tidelands, defines traditional and customary rights of the people of the Chuuk State in respect of tidelands and the granting of (ownership) rights in respect of such land by the State to people of Chuuk. Tidelands within the meaning of the Chuuk Constitution are those marine lands from the shore to the face of the reef that are shallow enough for traditional fishing activity by women.