VESTING
- The following tenancy types are recognized: Tenancy in Common and Estates in joint tenancy
- The non-titled spouse is NOT required to sign the security instrument
- Acceptable instruments for transferring ownership on real property: Warranty Deed, Quitclaim Deed or Limited Warranty Deed. A transfer tax declaration form (PT-6)1 is required for conveyances only.
RELEASE
- Acceptable instruments to release mortgages: Original Security Deed with cancellation signed on its face or Quitclaim Deed with appropriate recital to release or cancellation.
POWER OF ATTORNEY
TAX DUE DATES
- Taxes are levied on January 1st and are due at various times depending on the county and city
MORTGAGE/TRANSFER TAX
- Transfer tax fees are $1.00 per $1000.00
- Mortgage tax of $1.50 per $500.00 for loans with maturity greater than 3 years
SECURITY INSTRUMENT RECORDING REQUIREMENTS
- All names must be typed or printed under signatures
- Prepared by must appear on the top 3" of the first page of all deeds
- Name and signature of the person who prepared the deed must appear on the instrument
- Notaries stamp, seal with expiration date must be on all instruments submitted for recording
- Two witnesses are required (notary must be one)
WHO MAY SERVE AS TRUSTEE ON DEED OF TRUST
STATUTE OF LIMITATIONS
- JUDGMENTS IN FAVOR OF U.S. - 20 years
- ALL OTHER JUDGMENTS - 7 years
- STATE OF GEORGIA TAX LIENS - 7 years
- FEDERAL TAX LIENS - 10 years
- MECHANICS LIEN - 1 year from date claim due unless suit is filed
- FINANCING STATEMENT - 5 years
- HOMEOWNERS ASSOCIATION - 4 YEARS
- MORTGAGES - 20 YEARS AFTER MATURITY
- NOTICE OF COMMENCEMENT - N/A
- PERONAL PROPERTY TAX LIENS - 7 YEARS
- WORKERS COMPENSATION TAX LIENS - N/A
- STATE INHERITANCE TAX - 7 YEARS
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Georiga Information
