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Georgia

O.C.G.A. § 44-14

Contract type

Bond for title

Cure period

30 days (contractual)

Recording

Recommended

Superior Court Clerk

Default remedy

Forfeiture or judicial foreclosure

Owner-Finance Land Contracts in Georgia

Overview

Georgia has a distinctive owner-finance vocabulary. The traditional installment-sale instrument is the "bond for title," in which the seller agrees to convey title upon completion of payment. The dominant secured-financing instrument is the security deed (also called a deed to secure debt) under O.C.G.A. § 44-14, which transfers legal title to the lender as security.

For vacant-land owner finance — particularly in South Georgia for hunting and timber acreage — both structures are widely used. The security-deed path is by far the more efficient on default because it supports non-judicial foreclosure.

Governing Law

The relevant Georgia statutes include O.C.G.A. § 44-14 (security deeds and mortgages, including non-judicial foreclosure procedures at § 44-14-160 et seq.); § 44-2 (recording); and general contract law and the Statute of Frauds. Bond-for-title transactions are not governed by a dedicated statute but are well-established through case law.

Georgia's intangible recording tax applies to long-term notes secured by real estate.

Recording the Buyer's Interest

Georgia is a race-notice state. Recording is done with the Superior Court Clerk. For bond for title, recording either the bond or a memorandum protects priority. For security-deed transactions, the security deed itself is recorded.

Default and Cure Period

Georgia does not impose a statutory cure period for bond-for-title defaults; the contract controls. Thirty days is customary.

For security-deed non-judicial foreclosure under § 44-14-162 et seq., a notice of foreclosure must be published once a week for four weeks before the foreclosure sale, which is held on the first Tuesday of the month at the courthouse.

Seller Remedies on Default

For bond for title: forfeiture, retention of payments, ejectment, judicial foreclosure of the buyer's equitable interest. Quiet-title actions commonly used to clear record title after default.

For security-deed transactions: non-judicial foreclosure on the courthouse steps — fast (about 30–35 days from start) and inexpensive. Confirmation of the sale is required before any deficiency judgment.

Vacant Land vs. Residential

Georgia applies consumer-protection overlays principally to dwelling-secured credit. Vacant land sits outside the federal SAFE Act and Dodd-Frank dwelling-secured-credit regime.

Practical Notes for Sellers

  • For larger transactions, default to a deed-and-security-deed structure.
  • For small-dollar deals, bond for title remains popular.
  • Plan for intangible recording tax on long-term notes.
  • Confirm timber and hunting-lease status in South Georgia.
  • Use certified mail for default notices and follow § 44-14-162 et seq. precisely on security-deed foreclosure.

Disclaimer

This page is a public-law summary for general informational purposes only. It is not legal advice. Owner-finance transactions are state-specific and fact-specific. Engage a licensed attorney in the parcel's state before drafting, signing, or recording any agreement.

Structured data

The legal mechanics of a Georgia deal.

Governing statute
high confidence
O.C.G.A. § 44-14
Georgia's traditional owner-finance instrument is the 'bond for title'; the state's principal security instrument is the security deed under § 44-14.
Recording instrument
Bond for Title or memorandum thereof
Filed at the Superior Court Clerk. Recording is recommended to protect the buyer's interest.
Cure period
30 days (typical contractual)
No statutory cure period for bond-for-title defaults. Georgia's non-judicial foreclosure of security deeds has a defined notice and timing structure but does not directly govern bonds for title.
Default remedy
Forfeiture or judicial foreclosure
Bond for title defaults typically resolved through ejectment or quiet title; security-deed transactions use Georgia's efficient non-judicial foreclosure under § 44-14-160 et seq.
Notable requirements
  • Georgia intangible recording tax considerations
  • Statute of Frauds writing requirement
Prohibited or limited
  • Aggressive forfeiture clauses subject to equitable review where buyer has substantial equity
Vacant land vs. residential
Vacant-land owner-finance widespread in Georgia, particularly in South Georgia for hunting and timber; sellers commonly use either bond for title or deed-and-security-deed structures.

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Important disclaimer

This page is a public-law summary for general informational purposes only. It is not legal advice. Owner-finance transactions are state-specific and fact-specific. Engage a licensed attorney in Georgia before drafting, signing, or recording any agreement. Statute citations and procedural notes may be incomplete or out of date — always verify against the current code.