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2018 Georgia Code 44-14-322 | Car Wreck Lawyer

TITLE 44 PROPERTY

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

ARTICLE 8 LIENS

44-14-322. Vendor's equitable lien abolished.

The vendor's equitable lien for the purchase money of lands is abolished.

(Orig. Code 1863, § 1988; Code 1868, § 1978; Code 1873, § 1997; Code 1882, § 1997; Civil Code 1895, § 2823; Civil Code 1910, § 3373; Code 1933, § 67-1703.)

JUDICIAL DECISIONS

O.C.G.A. § 44-14-322 is not retroactive. Bass v. Ware, 34 Ga. 386 (1866).

Abolition does not dispense with purchaser's equity.

- The abolition of the vendor's equitable lien did not dispense with the natural equity acquired by the purchaser through payment of the purchase money, as the law recognizes that title is held in trust for the purchaser. Horner v. Savannah Valley Enters., Inc., 234 Ga. 371, 216 S.E.2d 113 (1975).

Vendor has no priority in decedent's estate.

- In the distribution of a decedent's estate, a vendor holding promissory notes has no priority of payment out of the land. Jones v. Janes, 56 Ga. 325 (1876).

Cited in Cruger v. Clark, 44 Ga. 224 (1871); Broach v. Smith, 75 Ga. 159 (1885); Rounsaville v. Peek, 108 Ga. 584, 34 S.E. 141 (1899); Green v. Hall, 151 Ga. 728, 108 S.E. 42 (1921); Summer v. Strayhorn, 186 Ga. 755, 199 S.E. 108 (1938); Nix v. Cauthen, 220 Ga. 850, 142 S.E.2d 230 (1965).

RESEARCH REFERENCES

Am. Jur. 2d.

- 77 Am. Jur. 2d, Vendor and Purchaser, § 583.

24A Am. Jur. Pleading and Practice Forms, Vendor and Purchaser, § 3.

C.J.S.

- 92A C.J.S., Vendor and Purchaser, § 529.

ALR.

- Vendor and purchaser: vendor's lien to secure legacy which one receiving quitclaim from legatee agrees to pay, 2 A.L.R. 810.

Bankruptcy: priority as between vendor's lien on real estate and rights of trustee in bankruptcy of purchaser, 22 A.L.R. 1338.

Contract for development and sale of land as creating a power coupled with interest or supporting an equitable lien, 65 A.L.R. 1080.

Unperformed agreement as to security for, or creation of fund for payment of, purchase price, as waiver of vendor's lien real property, 119 A.L.R. 1180.

Real estate broker's rights and remedies in respect of property or proceeds for payment or security of his compensation, 125 A.L.R. 921.

Right of seller or assignor of leasehold to vendor's lien, 67 A.L.R.2d 1094.

No results found for Georgia Code 44-14-322.