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O.C.G.A. § 44-14-125 — Disposition of proceeds of sale; surplus | Georgia Code
O.C.G.A. § 44-14-125 (2018) Copy Cite Official Site Syfertize CourtListener Scholar Amendments

TITLE 44 PROPERTY

Section 14. Mortgages, Conveyances to Secure Debt, and Liens, 44-14-1 through 44-14-613.

ARTICLE 5 TRUST DEEDS

44-14-125. Disposition of proceeds of sale; surplus.

The money arising from the sale of the property shall be paid to the trustee unless claimed by some other lien which by law may have priority over the deed; and, when there is any surplus after paying the sums due under the deed and other liens, the surplus shall be paid to the maker of the deed or his agent.

(Ga. L. 1896, p. 76, § 6; Civil Code 1910, § 3316; Code 1933, § 67-1206.)

JUDICIAL DECISIONS

Cited in Lanier v. Mandeville Mills, 183 Ga. 716, 189 S.E. 532 (1937).

RESEARCH REFERENCES

Am. Jur. 2d.

- 55 Am. Jur. 2d, Mortgages, §§ 778, 785, 790.

C.J.S.

- 59A C.J.S., Mortgages, §§ 664 et seq., 961, 966, 967.

ALR.

- Trustee in mortgage securing bonds as agent of obligor or holder of bonds as regards deposit or payment in respect of principal or interest, 90 A.L.R. 467; 96 A.L.R. 1233.

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This Georgia Code resource is curated by this site's author, a personal injury and workers' compensation attorney admitted in Georgia (State Bar of Georgia No. 881027, since 2006) and Florida. For legal consultation, call 904-383-7448.