O.C.G.A.

O.C.G.A. § 12-3-245 (2019)

Subdivision, improvement, lease, or sale of island by authority - Term of leases; assignment; preservation, continuance, and survival of rights and privileges

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
Find cases: SyfertCases citing this section GA-LEGlegis.ga.gov (official) JustiaJustia CornellLII Search CasesGoogle Scholar

The leasing of the subdivided lots shall be for not more than 99 years. Such leases as the authority shall designate may be made freely assignable, subject to all the liabilities, obligations, and duties imposed upon the lessee by the authority in its original lease. In its leasehold conveyance or rental contracts, the authority may create and provide for the preservation of such rights and privileges in the present or future security grantees, mortgagees, or other lenders upon the security of the lessee’s or tenant’s rights, as the authority may deem wise. Such rights and privileges, when created, may also provide for their continuance or survival after termination or forfeiture of the original leasehold or rental contract.

History

Ga. L. 1950, p. 152, § 11; Ga. L. 1951, p. 782, § 4; Ga. L. 1952, p.

276, § 2; Ga. L. 1953, Jan.-Feb. Sess., p. 261, § 3; Ga. L. 1957, p. 608, § 3.

Annotations

RESEARCH REFERENCES Am. Jur. 2d. - 63C Am. Jur. 2d, Public Lands, § 64 et seq.

C.J.S. - 73B C.J.S., Public Lands, § 294.