TITLE 44 PROPERTY

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

ARTICLE 2 MORTGAGES

44-14-45. Forthcoming bond by purchaser of mortgaged personalty; affidavit of mortgagee.

Purchasers at public sales of personal property subject to the lien of a mortgage shall give bond and security in double the value of the property to the officer making the sale and conditioned not to remove the property from the state and for its forthcoming answer to the lien; provided, however, that prior to the sale the mortgagee or his or her agent shall file with the officer an affidavit stating the amount due on the mortgage and that he or she expects the loss of the property unless the bond is taken. On failure to give the bond, the property shall be resold at the risk of the purchaser.

(Laws 1830, Cobb's 1851 Digest, p. 513; Code 1863, § 1970; Code 1868, § 1958; Code 1873, § 1968; Code 1882, § 1968; Civil Code 1895, § 2742; Civil Code 1910, § 3275; Code 1933, § 67-119; Ga. L. 2002, p. 415, § 44.)

The 2002 amendment, effective April 18, 2002, part of an Act to revise, modernize, and correct the Code, deleted "to" following "forthcoming" and inserted "or her" and "or she".