O.C.G.A. § 44-14-400 (2019)

Annotations

JUDICIAL DECISIONS Where property sold in depositor’s lifetime, proceeds not part of estate. - Where a factor, with whom property had been deposited, makes advances thereon to the owner, the factor has the right and power to sell the property for the purpose of paying the indebtedness represented by the advancements, and has a lien upon the funds derived from the sale for the purpose of reimbursing the factor for the advances made. Where the factor, in the lifetime of the owner, sells the property and applies the proceeds to the indebtedness, neither the property, nor the proceeds of the sale thereof, become, upon the death of the owner, a part of the estate, and therefore the surviving spouse and minor children can assert no claim for a year’s support in the property or the proceeds thereof. Philpot v. Ramsey & Hogan, 47 Ga. App. 635, 171 S.E. 204, 1933 Ga. App. LEXIS 584 (1933). Property is part of depositor’s estate if not sold before death. - Where a factor, with whom property had been deposited, who made advancements thereon during the lifetime of the owner, does not sell the property until after the owner’s death, the property encumbered with the factor’s lien for the advancements becomes a part of the owner’s estate, and is therefore subject to the superior lien of the surviving spouse and minor children of the owner for a year’s support. Philpot v. Ramsey & Hogan, 47 Ga. App. 635, 171 S.E. 204, 1933 Ga. App. LEXIS 584 (1933).

Factor’s lien junior to that for year’s support of depositor’s survivors. - Where a factor occupies, as to the landlord, the position of a bona fide acquisitor of a mortgage lien on the property, for value and without notice, and, possesses only a lien upon the property for the advancements made, such lien, where no title passes, has no priority over the lien given by statute on the property of the deceased at the time of death to the surviving spouse and minor children for a year’s support. Philpot v. Ramsey & Hogan, 47 Ga. App. 635, 171 S.E. 204, 1933 Ga. App. LEXIS 584 (1933). Warehouseman’s lien not superior to homestead exemption. - A warehouseman’s lien for storage charges on property deposited with the warehouseman is not superior to the exemption rights established by setting it apart as homestead property although it be set apart after the accrual of the storage charges. Morrow Transf. & Storage Co. v. Whitson, 20 Ga. App. 149, 92 S.E. 761, 1917 Ga. App. LEXIS 759 (1917). Bailee’s lien inferior to recorded security interest. - Bailee’s lien was inferior to a cooperative banks’ duly recorded security interest in peanuts. Farm Credit of Northwest Fla., ACA v. Easom Peanut Co., 312 Ga. App. 374, 718 S.E.2d 590, 2011 Ga. App. LEXIS 817 (2011), cert. denied, No. S12C0444, 2012 Ga. LEXIS 315 (Ga. Mar. 19, 2012).

RESEARCH REFERENCES Am. Jur. 2d. 8 Am. Jur. 2d, Bailments, § 190 et seq. Am. Jur. Pleading and Practice Forms. 10A Am. Jur. Pleading and Practice Forms, Factors and Commission Merchants, § 2.

C.J.S. 8 C.J.S., Bailments, § 80 et seq. ALR. Right of a factor, commission merchant, or produce broker to sell property to protect advances, 40 A.L.R. 387.

Factor’s right to setoff against proceeds of consignment, 52 A.L.R. 811. Priority of lien of sales or consumers’ tax, 136 A.L.R. 1015. Lien for storage of motor vehicle, 48 A.L.R.2d 894; 85 A.L.R.3d 199.

Necessity and sufficiency of notice or statement prescribed by factor’s lien law, 96 A.L.R.2d 727.