Atlanta Georgia Deed Under Power
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How to fill out Georgia Deed Under Power?
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FAQ
The states where power of sale foreclosures are allowed and generally used are Alabama, Alaska, Arizona, Arkansas, California, Colorado, the District of Columbia (sometimes), Georgia, Hawaii (sometimes), Idaho, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire
A lender foreclosing on real property in Georgia under a power of sale granted in a deed to secure debt (security deed) must execute a foreclosure deed under power of sale (also known as a deed under power) to convey title to the highest bidder following the foreclosure sale (O.C.G.A. § 44-14-160).
To obtain a copy of a deed or document from a deeds registry, you must: Go to any deeds office (deeds registries may not give out information acting on a letter or a telephone call). Go to the information desk, where an official will help you complete a prescribed form and explain the procedure.
General warranty deeds give the grantee the most protection, special warranty deeds give the grantee more limited protection, and a quitclaim deed gives the grantee the least protection under the law.
You can access all recorded deeds, liens, plats and UCC's online at gsccca.org or visit our office at 75 Langley Drive, Lawrenceville GA 30046. There is a fee to access the website and a $. 50 charge for each copy printed. There is no charge to search and view documents in our office.
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. Others may be secured through the Georgia Superior Court Clerk's Cooperative Authority at .
A power of sale is the most common forced sale process used in Ontario when a homeowner fails to repay their mortgage. In a power of sale, a mortgagee (the lender in a mortgage) obtains the legal right to evict residents of a property and sell the property to recover funds owing.
What is a Power of Sale? If a homeowner stops paying their mortgage and defaults on the loan, a power of sale by the lender allows the home to be sold to pay back the mortgage. There are other ways for homeowners to default on a mortgage besides not making their mortgage payments.
Disadvantages to Lender A lender should also hesitate before accepting a lieu deed where there are outstanding subordinate liens or judgments against the property. In such a situation, the lender will have to foreclose its mortgage, with the attendant expense and time involved to obtain clear title.