Bill Text: GA HB110 | 2011-2012 | Regular Session | Comm Sub

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Mortgages and liens; vacant property registry; provisions

Spectrum: Partisan Bill (Republican 7-0)

Status: (Passed) 2012-07-01 - Effective Date [HB110 Detail]

Download: Georgia-2011-HB110-Comm_Sub.html

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12 LC 39 0027S

The Senate Banking and Financial Institutions Committee offered the following substitute to HB 110:

A BILL TO BE ENTITLED
AN ACT

To amend Article 1 of Chapter 14 of Title 44 of the Official Code of Georgia Annotated, relating generally to mortgages, conveyances to secure debt, and liens, so as to provide for a foreclosed real property registry; to provide for definitions; to provide for required elements of a form for such registration; to provide for exemptions from registration; to provide for maximum fees and penalties for registration and failure to register; to provide for appellate rights; to provide for related matters; to repeal conflicting laws; and for other purposes.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF GEORGIA:

SECTION 1.

Article 1 of Chapter 14 of Title 44 of the Official Code of Georgia Annotated, relating generally to mortgages, conveyances to secure debt, and liens, is amended by adding a new Code section to read as follows:

"44-14-14.

(a) As used in this Code section, the term:

(1) 'Agent' means an individual with a place of business in this state at which he or she is authorized to accept inquiries, notices, and service of process on behalf of a foreclosed real property owner.

(2) 'Department' means the Department of Community Affairs.

(3) 'Foreclosed real property' means real property that has a building, structure, or wastewater collection system on it that is held pursuant to a judicial or nonjudicial foreclosure of a mortgage, deed of trust, security deed, deed to secure debt, or other security instrument securing a debt or obligation owed to a creditor or a deed in lieu of foreclosure in full or partial satisfaction of a debt or obligation owed to a creditor. Such term shall not include a building or structure containing multiple units with common ownership that has at least one unit occupied and is not held pursuant to a foreclosure instrument.

(4) 'Street address' means the street or route address. Such term shall not mean or include a post office box.

(b) Effective July 1, 2012:

(1) A county or municipal corporation may establish by ordinance or resolution for the requirement of registration of foreclosed real property as provided in this Code section;

(2) No county or municipal corporation shall require registration of foreclosed real property or real property on any basis other than as set forth in this Code section or as may be hereafter authorized by general law, and all existing county or municipal ordinances or resolutions to the contrary shall hereby be preempted; provided, however, that county or municipal ordinances or resolutions that require registration of foreclosed properties for repeated ordinance violations that remain uncorrected for at least 60 days shall not be preempted; and

(3) No county or municipal corporation shall require for purposes of a foreclosed real property registry established pursuant to this Code section any information or documentation other than as set forth in this Code section.

(c) Each registrant shall be required to file with a specifically identified office or officer a registration form, in paper or electronic format, as required by the county or municipal corporation, requiring submission of only the following information:

(1) The foreclosed real property owner's name, street address, mailing address, phone number, facsimile number, and e-mail address;

(2) The agent's name, street address, mailing address, phone number, facsimile number, and e-mail address;

(3) The foreclosed real property's street address and tax parcel number;

(4) The transfer date of the instrument conveying the foreclosed real property to the owner; and

(5) At such time as it becomes available, recording information, including deed book and page numbers, of the instrument conveying the foreclosed real property to the owner.

(d) The department may promulgate a standard foreclosed real property registry form, in paper and electronic format, that requires only the information set forth in subsection (c) of this Code section. If such form is promulgated by the department, all counties and municipal corporations with a foreclosed real property registry shall use such form.

(e) When any foreclosed real property is acquired by foreclosure under power of sale pursuant to Code Section 44-14-160 or acquired pursuant to a deed in lieu of foreclosure and:

(1) The deed under power of sale or deed in lieu of foreclosure contains the information specified in subsection (c) of this Code section;

(2) The deed is filed with the clerk of superior court within 60 days of the transfer; and

(3) Proof of the following is provided to the office or officer in charge of the county or municipal foreclosed real property registry:

(A) A filing date stamp or a receipt showing payment of the applicable filing fees; and

(B) The entire deed under power of sale or entire deed in lieu of foreclosure,

a county or municipal corporation shall not require the transferee to register such foreclosed real property pursuant to this Code section or the payment of any administrative fees pursuant to subsection (h) of this Code section.

(f) An ordinance or resolution establishing a registry pursuant to this Code section may require a foreclosed real property owner to update the information specified in subsection (c) of this Code section within 30 days after any change in such required information.

(g) A foreclosed real property owner, or the agent of such owner, may apply to remove such foreclosed real property from the registry at such time as the real property no longer constitutes foreclosed real property. The county or municipal corporation shall grant or deny such application within 30 days, and if no such determination is made within 30 days, the application shall be deemed granted.

(h) An ordinance or resolution establishing a foreclosed real property registry may require the payment of administrative fees for registration which shall reasonably approximate the cost to the county or municipal corporation of the establishment, maintenance, operation, and administration of the registry. Such fees shall not exceed $175.00 per registration.

(i) An ordinance or resolution establishing a foreclosed real property registry may require penalties for failure to register or failure to update the information specified in subsection (c) of this Code section, provided that such penalties shall not exceed $500.00 per month and $2,000.00 total.

(j) A county or municipal ordinance or resolution requiring the registration of foreclosed real property shall provide for administrative procedures. The administrative procedures shall include the right to appeal to the municipal or recorder's court in the city where the foreclosed real property is located or to the magistrate or recorder's court of the county in which the foreclosed real property is located, subject to applicable jurisdictional requirements. Any foreclosed real property owner affected by a county or municipal ordinance or resolution requiring foreclosed real property registration may challenge any determination made pursuant to such ordinance or resolution.

(k) An ordinance or resolution adopted by the governing authority of a county to establish a registry pursuant to this Code section may, subject to and in accordance with the requirements of this Code section, require registration of foreclosed real property within the entire territory of the county, except territory located within the boundaries of any municipal corporation, unless otherwise allowed by intergovernmental agreement between the county and municipal corporation.

(l) Nothing in this Code section shall be construed to prohibit a county or municipal ordinance or resolution requiring the registration of foreclosed real property from providing for exemptions from such registration.

(m) Nothing in this Code section shall be construed to impair, limit, or preempt in any way the power of a county or municipal corporation to enforce any applicable codes, as defined in Code Section 41-2-8, or to define or declare nuisances and to cause their removal or abatement by summary proceedings or otherwise.

(n) Notwithstanding Code Section 36-74-30, an ordinance or resolution establishing a foreclosed real property registry may require the registration of residential rental property if such property is foreclosed real property."

SECTION 2.

All laws and parts of laws in conflict with this Act are repealed.