In all cases where the defendant may desire to transfer, remove, or convey any of the secured property after the service of the summons and after having an opportunity to answer, the defendant shall post bond for the delivery of the property at the time and place of sale. The bond shall be with good security for a sum equal to the value of the property or the amount of the alleged remaining balance, whichever is less. The value of the property shall be estimated by the judge, the magistrate, or the clerk. Upon the approval of the bond by the judge, the magistrate, or the clerk, the defendant may transfer, remove, or convey such property as may be approved by the judge, the magistrate, or the clerk.
History. Code 1933, § 67-709, enacted by Ga. L. 1974, p. 398, § 1; Code 1933, § 67-708, as redesignated by Ga. L. 1975, p. 1213, § 3; Ga. L. 1987, p. 1023, § 6.
Law reviews.
For article on this part and personal property foreclosures, see 11 Ga. St. B. J. 230 (1975).
Structure Georgia Code
Chapter 14 - Mortgages, Conveyances to Secure Debt, and Liens
Part 4 - Foreclosures on Personalty
§ 44-14-230. Authority to Foreclose; Execution; Sale
§ 44-14-231. Petition for Writ of Possession; Affidavit
§ 44-14-235. Appeals; Possession Pending Appeal
§ 44-14-236. Execution and Levy; Retention by Plaintiff; Sale
§ 44-14-237. Transfer, Movement, or Conveyance of Property by Defendant After Posting of Bond
§ 44-14-238. Foreclosure When Debts Due in Installments; Treatment of Surplus
§ 44-14-239. Foreclosure Before Debt Due; Grounds; Affidavit
§ 44-14-240. Foreclosure Before Debt Due; Levy and Sale; Disposition of Proceeds
§ 44-14-241. Foreclosure Before Debt Due; Affidavit of Illegality; Bond; Trial of Issue