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Displaying 26 - 30 of 40Chapter 7 of Title 67 of the Trust Territory Code - Lease of Public Lands to Citizens.
This Chapter authorizes the district administrator of each administrative district to execute leases and other use agreements of public land of a duration of not more than 25 years to Trust Territory citizens or corporations or other business associations wholly owned by citizens of the Trust Territory. Such leases or other use agreements shall be on forms approved by the Attorney General and shall be granted in accordance with the policies established by Law or by Regulations issued by the Land and Claims Administrator and approved by the High Commissioner.
Chapter 2 of Title 57 of the Trust Territory Code - Land Ownership Generally.
This Chapter places restrictions on the holding of land by foreigners in the State of Chuuk. It prescribes that only citizens of the Trust Territory or corporations wholly owned by citizens of the Trust Territory may hold title to land in the Trust Territory provided that the right, title, or interest of non-citizens or their heirs or devisees, in lands in the Trust Territory held by such persons prior to a specified date shall be safeguarded.
Chapter 5 of Title 67 of the Trust Territory Code - Historical Sites and Antiquities.
This Chapter declares the national policy to preserve for public use historic sites, buildings and objects of territorial significance for the inspiration and benefit of the people of Micronesia, establishes the Historic Sites Commission and defines functions and powers of the Commission and the Deputy Director for Resources and Development in respect of the preservation of historical sites and artefacts. The Deputy Director may acquire land with the consent of the owner.
Chapter 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.