The department, county, or municipality may advertise in magazines relating to the sale of real estate or similar publications.
History. Code 1933, § 95A-621, enacted by Ga. L. 1973, p. 947, § 1; Ga. L. 1974, p. 1422, § 16A; Ga. L. 1995, p. 1195, § 1; Ga. L. 2008, p. 726, § 1/SB 444; Ga. L. 2009, p. 8, § 32/SB 46; Ga. L. 2015, p. 1072, § 3/SB 169; Ga. L. 2015, p. 1358, § 1/HB 477; Ga. L. 2018, p. 372, § 6/SB 445.
The 2018 amendment, effective July 1, 2018, inserted “a price no less than 15 percent under” in the middle of the second sentence of subparagraph (a)(2)(A); substituted the present provisions of subparagraph (b)(2)(A) for the former provisions, which read: “Such sale of property may be made by the department or a county or municipality by listing the property through a real estate broker licensed under Chapter 40 of Title 43 who has a place of business located in the county where the property is located or outside the county if no such business is located in the county where the property is located. Property shall be listed for a period of at least three months. Such property shall not be sold at less than its fair market value. The department shall use a real estate appraiser with knowledge of the local real estate market who is licensed in Georgia to establish the fair market value of the property prior to listing such property. All sales shall be approved by the commissioner on behalf of the department or shall be approved by the governing authority of the county or municipality at a regular meeting that shall be open to the public, and public comments shall be allowed at such meeting regarding such sale.”; inserted “newspapers, on the Internet, or in” in the middle of subparagraph (b)(2)(B); and substituted “If the highest offer received to purchase is less than the appraised value but within 15 percent of such value, the department, county, or municipality may accept such offer and convey the property in accordance with the provisions of subsection (c) of this Code section” for “Such property shall not be sold at less than its fair market value” in subparagraph (b)(3)(A).
Code Commission notes.
Pursuant to Code Section 28-9-5, in 1995, “paragraph” was substituted for “paragraphs” in subparagraph (b)(1)(A).
Pursuant to Code Section 28-9-5, “paragraph (1) of this subsection” was substituted for “the preceding paragraph” in the first sentence of paragraph (a)(2).
Law reviews.
For survey article on real property law, see 67 Mercer L. Rev. 193 (2015).
Structure Georgia Code