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Call Now: 904-383-7448Purchasers at judicial sales need not tender cash but, as an alternative, may tender a cashier's or certified check which is drawn for the amount of the purchase price and which is issued by or certified by any financial institution insured by the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation.
(Ga. L. 1976, p. 367, § 1.)
- Trial court's refusal to confirm a judicial sale was reversed as a cashier's check tendered by a buyer was the statutory and functional equivalent of a cash payment; because of the plain language and purpose of O.C.G.A. § 9-13-166, the unsuccessful bidders should not have been confused; further, the unsuccessful bidders did not have any more cash available and could not have obtained a cashier's check for any more than the amount they bid; any confusion as to the appropriate method of payment made no difference in the outcome. Upchurch v. Chaney, 280 Ga. 891, 635 S.E.2d 124 (2006).
Cited in Buffington v. Sigler, 259 Ga. 478, 383 S.E.2d 876 (1989).
- 47 Am. Jur. 2d, Judicial Sales, § 131 et seq.
- 50A C.J.S., Judicial Sales, § 59 et seq.
- Conditional bid at judicial or execution sale, 104 A.L.R. 632.
Propriety of accepting check or promissory note in satisfaction of bid at execution or judicial sale had for cash, 86 A.L.R.2d 292.
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