GA HB586

Amends Georgia's intangible recording tax by changing the definition of "long-term note secured by real estate" from notes with principal due more than three years to those due more than 62 months from the date of the note or security instrument

Requires instruments conveying or creating liens on real estate to specify when notes fall due within 62 months (previously three years) to qualify for simplified compliance with disclosure requirements

Applies the same 62-month threshold to bonds for title, requiring sellers who retain title as security to record the instrument and pay the intangible recording tax if any purchase price portion falls due beyond that period

Repeals paragraph (4) of the existing definitions section under Code Section 48-6-60