10-3-1. Transfer of secured note carries security.

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

The transfer of notes secured by a mortgage or otherwise conveys to the transferee the benefit of the security. If more than one note is secured and the mortgagee transfers some and retains others, the holder of the transferred notes has a preference over the mortgagee if the security is insufficient to pay all the notes.

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Civil Code 1895, § 3684; Civil Code 1910, § 4276; Code 1933, § 14-1802.

Other notes

History of Code section.: This Code section is derived from the decisions in Roberts v. Manfield, 32 Ga. 228 (1861), and Crowder v. Dunbar, 74 Ga. 109 (1884).

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t10-(v8)-2024-pdf.pdf, Volume V8, 2024 edition, page 633; merge action: carried; file SHA-256 7afbade16da7.

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