Definitions. — Guam Code § 4904

§ 4904. Definitions.

For purposes of this Act, the following words and phrases

are defined to mean:

(a) “Affordable housing unit” shall mean a single

family dwelling unit inclusive of land, built in accordance

with the Uniform Building Code or its successor codes as

adopted by Chapter 67 of Title 21, Guam Code Annotated,

and in consonance with the Guam zoning and subdivision

laws whose selling price meets the criteria set forth in the

Guam Economic Development Authority Rules and

Regulations pertaining to “affordable housing” adopted

pursuant to Public Law Number 24-266.

(b) “Corporation” shall mean the Guam Housing

Corporation created pursuant to § 4101 of Title 12 of the

Guam Code Annotated.

(c) “Residence” shall mean a single family home, a

condominium housing unit or a housing unit owned by a

cooperative housing cooperation.

(d) “Seller” shall mean the party to the lease-to-own

contract who is the seller of the residence.

(e) “Tenant-Purchaser” shall mean the prospective

person who is a party to the lease-to-own contract.