Whenever the vendor of personal property, at the time of selling and delivering such personal property, takes a mortgage or other security interest to secure the payment of the purchase money for such personal property, neither the surviving spouse nor the minor child or children of the vendee shall be entitled to year's support in the personal property as against the vendor or the vendor's heirs, personal representatives, or assigns until the purchase money of the personal property is fully paid; provided, however, that the mortgage or other security interest shall expressly state that the same is executed and delivered for the purpose of securing the debt for the purchase.

JUDICIAL DECISIONS

Editor's notes.

- In light of the similarity of the statutory provisions, decisions under former Civil Code 1910, § 4049 and former Code 1933, § 113-1011, are included in the annotations for this Code section.

Superiority of purchase-money mortgage. Purchase-money mortgage on personalty is superior to a year's support in such mortgaged property, regardless of whether the bill of sale to secure a debt is recorded or is not recorded. Hammett v. Citizens & S. Nat'l Bank, 231 Ga. 400, 202 S.E.2d 66 (1973) ??? (decided under former Code 1933, § 113-1010).

When an agreement is made for the furnishing of money to pay for personalty added or to be added to real estate as improvements thereto and it is specifically agreed that such described goods whether affixed to the premises or not, are and should remain personal property and that the lender has security title to and a security interest in those goods until the note is fully paid, the language in such agreement is sufficient to meet the requirements of this statute that it was executed and delivered for the purpose of securing the debt for such purchase money. Hammett v. Citizens & S. Nat'l Bank, 231 Ga. 400, 202 S.E.2d 66 (1973) ??? (decided under former Code 1933, § 113-1010).

Only a mortgage expressly made for the balance of the purchase money comes within the favored position allowed by statute. Hartley v. Smith, 152 Ga. 723, 111 S.E. 41 (1922) ??? (decided under former Civil Code 1910, § 4049).

Cited in Cobb v. Hall, 136 Ga. 254, 71 S.E. 145 (1911); Gresham v. Loganville Banking Co., 32 Ga. App. 177, 122 S.E. 806 (1924); Philpot v. Ramsey & Hogan, 47 Ga. App. 635, 171 S.E. 204 (1933); Bell v. Bell, 210 Ga. 295, 79 S.E.2d 524 (1954).

RESEARCH REFERENCES

Am. Jur. 2d.

- 31 Am. Jur. 2d, Executors and Administrators, §§ 690, 691.

C.J.S.

- 34 C.J.S., Executors and Administrators, § 454.

ALR.

- Bank deposit to credit of decedent or other indebtedness to him as subject to widow's or family allowance or other estate exemption, as affected by right of bank to apply deposit, or of other debtor to assert counterclaim or setoff, 108 A.L.R. 773.

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2018 Georgia Code 53-3-17 | Car Wreck Lawyer

TITLE 53 WILLS, TRUSTS, AND ADMINISTRATION OF ESTATES

Section 3. Year's Support, 53-3-1 through 53-3-20.

ARTICLE 5 ESCHEAT