Georgia Code
Article 5 - Life Estates
§ 44-6-88. Demand for Bond by Purchaser of Life Estate in Personalty; Effect of Failure to Give Bond

Upon the demand of anyone interested in the remainder or his agent or attorney, which demand shall be accompanied by a statement under oath of his interest, it shall be the duty of the officer making the sale of a life estate in personalty under process of law to require the purchaser to give bond in double the value of the property, with good security, for the delivery of the property to the remainderman. The bond shall be filed in the office of the clerk of the superior court of the county in which the sale is made and shall be subject to an action on the bond by any person who is interested in the remainder. On the failure of the purchaser to give such bond, the property shall be resold at his risk, provided that notice of the demand for such bond was given before he made the purchase.
History. Laws 1830, Cobb’s 1851 Digest, p. 513; Code 1863, § 2244; Code 1868, § 2236; Code 1873, § 2262; Code 1882, § 2262; Civil Code 1895, § 3097; Civil Code 1910, § 3673; Code 1933, § 85-1709; Ga. L. 1982, p. 3, § 44.

Structure Georgia Code