Georgia Deed Under Power
Description Deed Under Power Of Sale
How to fill out Georgia Deed Under Power?
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FAQ
Foreclosure deeds in Georgia are typically entitled Foreclosure Deed or Deed Under Power. The term Deed Under Power is derived from the power of sale clause found in the underlying mortgage instrument.Georgia law requires foreclosure deeds to be recorded with ninety (90) days from the date of foreclosure.
Request a copy of your deed in the County where your land is located. All deeds must be recorded with the Clerk of Superior Court. Many deeds are available online by accessing the local Clerk of Superior Court website.
Generally, the lender sends the documents to be recorded after the closing.Typically, the lender will provide you with a copy of the deed of trust after the closing. The original warranty deeds are often mailed to the grantee after they are recorded.
You may print a copy of the Warranty Deed or Cancellation of Security Deed from gsccca.org.
The deed of trust is currently used in Alabama, Alaska, Arkansas, Arizona, California, Colorado, District of Columbia, Georgia, Hawaii, Idaho, Iowa, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, New Hampshire, North Carolina, Oklahoma, Oregon, Rhode Island, South Dakota, Tennessee, Texas, Utah, Virginia,
The Difference Between A Title And A Deed A deed is an official written document declaring a person's legal ownership of a property, while a title refers to the concept of ownership rights.
In the State of Georgia, the instrument used to secure a debt on property is called a "Deed to Secure Debt" or "Security Deed." Under Georgia law, the lender is deeded the property, but in a lesser form of a deed that becomes activated if the borrower defaults in some way.
A power of sale provision is a clause in the deed of trust or mortgage in which the borrower pre-authorizes the sale of property by way of a nonjudicial foreclosure to pay off the balance of the loan in the event of a default. With a power of sale foreclosure, the lender can foreclose without court oversight.
Georgia is a redeemable tax deed state.You only get the right to try to collect the past due taxes. If the owner does not pay, you can own the property. State law allows you to file for foreclosure to get possession of the property after 12 months.