Official Code of Georgia Annotated

Title 44. PROPERTY · Chapter 14. MORTGAGES, CONVEYANCES TO SECURE DEBT, AND LIENS · Article 2. MORTGAGES

44-14-48. Foreclosure by one of several mortgagees; control and distribution of proceeds by court.

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

If there are several mortgages of equal rank or if separate amounts due to distinct persons are embraced in the same mortgage and one mortgagee forecloses, the court will control the proceeds of the sale for distribution to the several mortgagees according to their claims.

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

Orig. Code 1863, § 1968; Code 1868, § 1956; Code 1873, § 1966; Code 1882, § 1966; Civil Code 1895, § 2740; Civil Code 1910, § 3273; Code 1933, § 67-122.

Other notes

History of Section.: This Code section is derived in part from the decision in Bass v. West Point Whsle. Grocery Co., 5 Ga. App. 746, 62 S.E. 1004 (1908).

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

Text read from t44-ch8-15-(v32)-2022-pdf.pdf, Volume V32, 2022 edition, page 488; merge action: carried; file SHA-256 02e72213893a.

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