---
title: O.C.G.A. § 44-14-260. Definitions.
collection: code
id: 44-14-260
cite_as: O.C.G.A. § 44-14-260 (2025)
canonical_url: https://georgiacommons.org/code/44-14-260
md_url: https://georgiacommons.org/code/44-14-260.md
text_url: https://georgiacommons.org/code/44-14-260/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t44-ch8-15-(v32)-2022-pdf.pdf?sfvrsn=9e9e06de_0#page=655
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: PROPERTY / MORTGAGES, CONVEYANCES TO SECURE DEBT, AND LIENS / FORECLOSURE / FORECLOSURES ON PERSONALTY / Foreclosures Arising out of Commercial Transactions
---

# O.C.G.A. § 44-14-260. Definitions.

As used in this subpart, the term:

(1) “Commercial transaction” means a transaction which gives rise to an obligation to pay for goods sold or leased, services rendered, or moneys loaned for use in the conduct of a business or profession and not for personal consumption.

(2) “Consumer transaction” means the sale, lease, or rental of goods, services, or property, real or personal, primarily for personal, family, or household purposes.

(3) “Waiver” means a written statement signed by the defendant, which statement contains language clearly and unambiguously waiving any and all rights the defendant may have to a notice prior to seizure by a creditor having an interest in personal property of the defendant. No waiver shall be effective unless the interest sought to be foreclosed upon arose out of a commercial transaction.

## History

Code 1933, § 67-718, enacted by Ga. L. 1975, p. 1213, § 3.