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Displaying 36 - 40 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.
Earthmoving Regulations.
These Regulations regulate earthmoving operations, i.e. any construction or other activity which disturbs or alters the surface of the land, coral reef or bottom of lagoons (reg. 1.3). All earthmoving operations in Micronesia shall be conducted in accordance with these Regulations and in such a way as to prevent accelerated erosion or accelerated sedimentation (reg. 2.1). Erosion and sedimentation control measures shall be set forth in a plan to be prepared by qualified persons in accordance with requirements laid down in reg.