Georgia Legislative Update

Georgia Legislative Update

The Georgia legislature recently amended its laws governing redemption of property sold for taxes and its laws governing regulation of financial institutions, effective July 2, 2016.




Whenever any real property is sold under or by virtue of an execution issued for the collection of state, county, municipal, or school taxes or for special assessments, the defendant or any person having any right, title, or interest in or lien upon such property may redeem the property from the sale by the payment of the amount required for redemption:


  • At any time within 12 months from the date of the sale; and
  • At any time after the sale until the right to redeem is foreclosed when the tax sale purchaser provides the notice as set forth in Georgia law.


The amount required to be paid for redemption of property from any sale for taxes with respect to any sale made after July 1, 2002 must be the amount paid for the property at the tax sale, as shown by the recitals in the tax deed, plus:


  • Any taxes paid on the property by the purchaser after the sale for taxes;
  • Any special assessments on the property; and
  • A premium of 20 percent of the amount for the first year or fraction of a year which has elapsed between the date of the sale and the date on which the redemption payment is made and 10 percent for each year or fraction of a year thereafter.


If redemption is not made until more than 30 days after the notice from the tax sale purchaser has been given, the sheriff’s cost in connection with serving the notice and the cost of publication of the notice, if any, must be added to the redemption amount.


With respect to any sale made after July 1, 2016, also added to the redemption amount is any sum:


  • Paid from the date of the tax sale to the date of redemption to a property owners’ association;
  • Paid to a condominium association; or
  • Paid to a homeowners’ association established by covenants restricting land to certain uses related to planned residential subdivisions.




The Department of Banking and Finance (“Department”) may now proceed through the Attorney General to collect any amount owed to the Department, including, but not limited to, outstanding fees.  This remedy was previously only available for examination fees.


“Nationwide Mortgage Licensing System and Registry” has been replaced by Nationwide Multistate Licensing System and Registry whenever such term appears in Georgia law.


A licensed mortgage loan originator who subsequently becomes unlicensed must complete the continuing education requirements for the last year in which the license was held prior to issue of a new or renewed license or the pre-licensing education in the event the pre-licensing education has expired pursuant to the rules and regulations of the Department.


The Department is also authorized to enact rules and regulations related to the expiration of pre-licensing education for mortgage broker and lender licensing.