9-8-6. Lienholders made parties; divestment by receiver’s sale.

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

Persons holding liens on property in the hands of a receiver may be made parties to the case at any time. Unless otherwise provided in the order, liens upon the property held by any parties to the record, shall be dissolved by the receiver’s sale and transferred to the funds arising from the sale of the property.

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.

Civil Code 1895, § 4911; Civil Code 1910, § 5486; Code 1933, § 55-312.

For article, “Buying Distressed Commercial Real Estate: What are the Alternatives?,” see 16 (No. 4) Ga. St. B.J. 18 (2010).

History of Section.: The language of this Code section is derived in part from the decisions in Akerman v. Moon, 81 Ga. 688, 8 S.E. 321 (1888), Sullivan v. McDonald, 86 Ga. 78, 12 S.E. 215 (1890), and Trautwein v. McKinnon, 90 Ga. 301, 16 S.E. 85 (1892).

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

Text read from t9-ch1-10-(v6)-2023-pdf.pdf, Volume V6, 2023 edition, pages 602 to 603; merge action: carried; file SHA-256 ea8a520ad52f.