O.C.G.A. § 44-14-531 (2019)
Right of transferee to foreclose
Upon the simple transfer or assignment of any rent note, mortgage note, or other such evidence of debt as mentioned in Code Sections 44-14-325 and 44-14-326, the person to whom the same may be transferred or assigned shall, without more, have full power and authority to foreclose or enforce the evidences of debt in his own name.
History
Ga. L. 1899, p. 90, § 3; Civil Code 1910, § 3347; Code 1933, § 67-2302.
Annotations
JUDICIAL DECISIONS Rights of assignee of security deed. - Where one becomes owner of title conveyed by security deed and of indebtedness secured thereby, and power of sale not expressed in said deed as limited to grantee, but having been conferred upon grantee or “assigns,” the owner is entitled to exercise the power to same extent as grantee. Universal Chain Theatrical Enters., Inc. v. Oldknow, 176 Ga. 492, 168 S.E. 239, 1933 Ga. LEXIS 207 (1933). A transferee of rent note may foreclose landlord’s lien by distress. Beall v. Patterson, 146 Ga. 233, 91 S.E. 71, 1916 Ga. LEXIS 677 (1916); International Agric. Corp. v. Powell, 31 Ga. App. 348, 120 S.E. 668, 1923 Ga. App. LEXIS 942 (1923).
How holder of mortgage note may foreclose. - The simple endorsement of the name of the payee in a mortgage note payable to order, on the back thereof, gives the holder for value the right to foreclose in own name. Setze v. First Nat’l Bank, 140 Ga. 603, 79 S.E. 540, 1913 Ga. LEXIS 195 (1913). No need to charge section. - It is not error for the trial court to fail to charge the substance of O.C.G.A. § 44-14531 in the absence of a request. First Nat’l Bank v. Vinson, 102 Ga. App. 828, 118 S.E.2d 225, 1960 Ga. App. LEXIS 759 (1960).
RESEARCH REFERENCES Am. Jur. 2d. 6 Am. Jur. 2d, Assignments, § 50. C.J.S. 6A C.J.S., Assignments, § 76.
ALR. Interest subject to a homestead right in others as subject to lien of judgment or to attachment or execution, 122 A.L.R. 1150.
PART 12 FORECLOSURE OF LIENS ON PERSONALTY