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GA HB854
Bill
Status
Introduced
11/22/2023
Primary Sponsor
Eric Bell
Click for details
AI Summary
- Prohibits nonjudicial (power of sale) foreclosures on real estate mortgages when the mortgagor is 65 years of age or older or is an adult ward under a court-appointed guardian or conservator
- Revises the definition of "debtor" in Georgia's foreclosure code (O.C.G.A. §§ 44-14-162.2 through 44-14-162.4) to exclude individuals aged 65 or older and wards as defined in Code Section 29-1-1
- Effectively requires lenders to pursue judicial foreclosure through the courts, rather than the faster nonjudicial process, for protected mortgagors
- Amends Part 1 of Article 7 of Chapter 14 of Title 44 of the Official Code of Georgia Annotated, relating to general provisions on foreclosure
- Sponsored by Representatives Bell (75th), Burnough (77th), Jackson (165th), Paris (142nd), and Jackson (128th)
Legislative Description
Property; nonjudicial foreclosure on mortgages on real estate when the mortgagor is 65 years of age or older or an adult for whom a guardian or conservator has been appointed; prohibit
Last Action
House Second Readers
2/12/2024
Committee Referrals
Judiciary2/9/2024
Full Bill Text
No bill text available