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2018 Georgia Code 44-14-80 | Car Wreck Lawyer

Link to State of Georgia Official Statute 2018 Georgia Code Annotated (sourced from legal.resource.org)
O.C.G.A. 44-14-80 Case Law from Google Scholar Amendments to OCGA 44-14-80

TITLE 44 PROPERTY

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

ARTICLE 3 CONVEYANCES TO SECURE DEBT AND BILLS OF SALE

44-14-80. Reversion of realty to grantor; renewals and affidavits; effect; fees; construction of Code section.

  1. Title to real property conveyed to secure a debt or debts shall revert to the grantor or the grantor's heirs, personal representatives, successors, and assigns as follows:
    1. Title to real property conveyed to secure a debt or debts shall revert to the grantor or his or her heirs, personal representatives, successors, and assigns at the expiration of seven years from the maturity of the debt or debts or the maturity of the last installment thereof as stated or fixed in the record of the conveyance or, if not recorded, in the conveyance; provided, however, that where the parties by affirmative statement contained in the record of conveyance intend to establish a perpetual or indefinite security interest in the real property conveyed to secure a debt or debts, the title shall revert at the expiration of the later of (A) seven years from the maturity of the debt or debts or the maturity of the last installment thereof as stated or fixed in the record of conveyance or, if not recorded, in the conveyance; or (B) 20 years from the date of the conveyance as stated in the record or, if not recorded, in the conveyance;
    2. If the maturity of the debt or debts or the maturity of the last installment thereof is not stated or fixed, title to real property conveyed to secure a debt or debts shall revert at the expiration of seven years from the date of the conveyance as stated in the record or, if not recorded, in the conveyance; provided, however, that where the parties by affirmative statement contained in the record of conveyance intend to establish a perpetual or indefinite security interest in the real property conveyed to secure a debt or debts, the title shall revert at the expiration of 20 years from the date of the conveyance as stated in the record or, if not recorded, in the conveyance; or
    3. If the maturity is not stated or fixed and the conveyance is not dated, title to real property conveyed to secure a debt or debts shall revert at the expiration of seven years from the date the conveyance is recorded or, if not recorded, is delivered;

      provided, however, that foreclosure by an action or by the exercise of power of sale, if started prior to reversion of title, shall prevent the reversion if the foreclosure is completed without delay chargeable to the grantee or the grantee's heirs, personal representatives, successors, or assigns.

  2. If the grantee or the grantee's personal representatives, heirs, successors, or assigns, or any one of them if more than one, or an officer of a corporation having an interest shall, at any time before the title reverts as provided in subsection (a) of this Code section, make and cause to be recorded upon the record of the conveyance or elsewhere in the public records, with a notation of the place of record of the renewal on the record of the conveyance or, if not recorded, upon the conveyance, a written renewal of the debt or debts secured or the part thereof which are not fully paid and are not barred, which renewal shall be signed by the original grantor or the grantor's heirs, personal representatives, or successors in title to the real estate conveyed and shall be dated, the conveyance and record thereof shall remain of full force and effect and the title shall not revert for an additional period of seven years or 20 years according to the appropriate reversion period stated in subsection (a) of this Code section from the date of the renewal unless the debt or debts are paid sooner.
  3. If the grantee or the grantee's personal representatives, heirs, successors, or assigns, or any of them if more than one, or an officer of a corporation having an interest shall, at any time before the title reverts as provided in subsection (a) of this Code section, make and cause to be recorded upon the record of the conveyance or elsewhere in the public records, with a notation of the place of record thereof on the record of the conveyance or, if not recorded, upon the conveyance, an affidavit setting forth the name and address of the owner and holder of the debt and the deed securing the debt, the nature of the claim, the amount due thereon, the date of the last payment thereon, the maturity date of the indebtedness, and, if the debt has been renewed or extended, the terms of such renewal or extension and a description of the property conveyed therein, the conveyance and record thereof shall remain of full force and effect and title shall not revert for seven years or 20 years according to the appropriate reversion period stated in subsection (a) of this Code section from the maturity of the indebtedness as shown by said affidavit unless the debt or debts are paid sooner.
  4. It shall be the duty of the clerk of the superior court to record the renewals and affidavits provided for and authorized by this Code section; and the clerks shall be entitled to the same fees which are allowed for recording deeds.
  5. Subsections (a) through (d) of this Code section shall not operate to make such conveyance a mortgage, but the conveyance shall be held to be an absolute conveyance of title, subject to reversion.
  6. Nothing in this Code section shall be construed, interpreted, or enforced in a manner which impairs any contract rights under currently existing instruments conveying real property to secure a debt or debts.

(Ga. L. 1941, p. 487, §§ 1, 2; Ga. L. 1953, Nov.-Dec. Sess., p. 313, § 1; Ga. L. 1982, p. 3, § 44; Ga. L. 1994, p. 1943, § 13; Ga. L. 1995, p. 1198, §§ 2, 3.)

Editor's notes.

- Ga. L. 1995, p. 1198, § 4(b), not codified by the General Assembly, provides that where the record of conveyance states or fixes the maturity of the debt or debts or the maturity of the last installment thereof and the parties by affirmative statement contained in the record of conveyance evidence their intention to establish a perpetual or indefinite security interest, section 2 of the Act shall be applicable and effective with respect to all such conveyances even though they may be dated prior to July 1, 1995.

Law reviews.

- For article surveying developments in Georgia real property law from mid-1980 through mid-1981, see 33 Mercer L. Rev. 219 (1981). For annual survey of real property law, see 58 Mercer L. Rev. 367 (2006). For note on the 1995 amendment of this section, see 12 Ga. St. U.L. Rev. 313 (1995).

Cases Citing O.C.G.A. § 44-14-80

Total Results: 2  |  Sort by: Relevance  |  Newest First

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Brinson v. McMillan, 440 S.E.2d 22 (Ga. 1994).

Cited 8 times | Published | Supreme Court of Georgia | Feb 21, 1994 | 263 Ga. 802, 94 Fulton County D. Rep. 650

...Judgment reversed. All the Justices concur. NOTES [1] Brinson and McMillan were married in 1969 and were divorced in 1982. [2] Of course, the security deed ceases to be effective when the power of sale is barred by the statute of limitation. See OCGA § 44-14-80 et seq.
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MPP Investments, Inc. v. Cherokee Bank, N.A., 707 S.E.2d 485 (Ga. 2011).

Cited 6 times | Published | Supreme Court of Georgia | Jan 10, 2011 | 288 Ga. 558

...alue. A hearing was held before the special master on July 30, 2009. The primary issue argued at the hearing was whether title under Howe's security deed had reverted to Old Roswell prior to Howe's initiation of the sale under power pursuant to OCGA § 44-14-80(a)(1), which provides that title under a security deed will automatically revert to the grantor seven years after the maturity date of the underlying secured indebtedness....
...led to follow the proper procedure required by the security deed by not providing 60-days notice to Old Roswell, that the sale under power to MPP Investments was therefore void, that the title of the property reverted to Old Roswell pursuant to OCGA § 44-14-80(a)(1), and that Cherokee Bank holds a first priority security deed on the property....
...part of the pre-trial order). The pre-trial order in this case specifically lists as substantive issues whether the foreclosure sale was validly conducted and, if not, whether title under Howe's security deed reverted to Old Roswell pursuant to OCGA § 44-14-80(a)(1)....
...determine the validity ... [of] all ... interests in the land...." An amended pleading properly filed by Cherokee Bank included the claims that the foreclosure sale was improper and that title under Howe's security deed had reverted to Old Roswell pursuant to OCGA § 44-14-80(a)(1)....
...anyway. Furthermore, MPP Investments also admitted at that hearing that since Howe's security deed was public record, it had notice of both the maturity date on the security deed and the date on which automatic reversion could occur pursuant to OCGA § 44-14-80(a)(1)....
...d and is thus invalid. Therefore, since valid foreclosure proceedings were not initiated before September 28, 2008, seven years after the maturity date of the underlying debt, title under Howe's security deed reverted to Old Roswell pursuant to OCGA § 44-14-80(a)(1)....
...oreclosure sale. Moreover, it is undisputed that Howe's security deed was recorded with the maturity date clearly set forth, and, thus, MPP Investments was on constructive notice that the date of the reversion of the title interest, pursuant to OCGA § 44-14-80(a)(1), had occurred before the foreclosure sale....