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Call Now: 904-383-7448No waiver or release of the notice requirement of Code Section 44-14-162.2 shall be valid when made in or contemporaneously with the security instrument containing the power of nonjudicial foreclosure sale; but, notwithstanding the requirements of Code Sections 44-14-162.1, 44-14-162.2, this Code section, and Code Section 44-14-162.4, a subsequent quitclaim deed in lieu of foreclosure shall be valid and effective as such.
(Ga. L. 1981, p. 834, § 2; Ga. L. 2002, p. 415, § 44; Ga. L. 2009, p. 614, § 2/SB 141; Ga. L. 2012, p. 1079, § 1/SB 333.)
The 2002 amendment, effective April 18, 2002, part of an Act to revise, modernize, and correct the Code, substituted ", 44-14-162.2, this Code section, and Code Section" for "through" in subsection (c).
The 2009 amendment, effective July 1, 2009, deleted former subsection (b) which read: "The notice requirement of Code Section 44-14-162.2 shall apply to all nonjudicial foreclosure sales under a mortgage, security deed, or other lien contract taking place after July 1, 1981, this Code section being procedural and remedial in purpose."; and redesignated former subsection (c) as present subsection (b).
The 2012 amendment, effective July 1, 2012, deleted former subsection (a), which read: "The notice requirement of Code Section 44-14-162.2 shall apply only to the exercise of a power of sale of property all or part of which is to be used as a dwelling place by the debtor at the time the mortgage, security deed, or lien contract is entered into."; and deleted the subsection (b) designation. See Editor's notes for applicability.
- Ga. L. 2012, p. 1079, § 3/SB 333, not codified by the General Assembly, provides that: "This Act shall become effective on July 1, 2012, and shall apply to sales made on foreclosure under power of sale executed on or after July 1, 2012."
- For annual survey on real property law, see 61 Mercer L. Rev. 301 (2009). For article, "Georgia Foreclosure Confirmation Proceedings in Today's Recessionary Real Estate World: Back to the Future," see 16 (No. 4) Ga. St. B.J. 11 (2010). For annual survey on real property, see 64 Mercer L. Rev. 255 (2012).
- The notice requirements of O.C.G.A. § 44-14-162.2 were not applicable to the foreclosure of unimproved lots. Stepp v. Farm & Home Life Ins. Co., 222 Ga. App. 257, 474 S.E.2d 108 (1996).
Cited in Funderburke v. Kellet, 257 Ga. 822, 364 S.E.2d 845 (1988); RBC Real Estate Fin., Inc. v. Winmark Homes, Inc., 318 Ga. App. 507, 736 S.E.2d 117 (2012).
Total Results: 3
Court: Supreme Court of Georgia | Date Filed: 2016-04-04
Citation: 298 Ga. 818, 785 S.E.2d 505, 2016 WL 1276376, 2016 Ga. LEXIS 267
Snippet: Act” language of Section 5 (b) to say in OCGA § 44-14-162.3 “the notice requirement [singular] of Code Section
Court: Supreme Court of Georgia | Date Filed: 2016-02-22
Snippet: 44-14-162.1) under OCGA § 44-14-162.2. See OCGA § 44-14- 162.3 (“No waiver or release of the notice requirement
Court: Supreme Court of Georgia | Date Filed: 1988-02-12
Citation: 257 Ga. 822, 364 S.E.2d 845, 1988 Ga. LEXIS 65
Snippet: notice requirements of OCGA §§ 44-14-162.2 and 44-14-162.3 when they foreclosed on the property under the