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Georgia State Code
Title      44
Chapter      14  
Section Navigation     1 ... 10         11 ... 35.1  
    36 ... 44         45 ... 64    
    65 ... 100       101 ... 141   
   142 ... 162.4     163 ... 186   
   187 ... 232       233 ... 260   
   261 ... 280       281 ... 323   
   324 ... 346         347 ... 362   
   363 ... 401       402 ... 411   
 411.1 ... 452       453 ... 465   
   466 ... 490       491 ... 515   
   516 ... 572       573 ... 605   
   610 ... 613     
Section<<< 347 348 360 361 361.1 361.2 361.3 361.4 361.5 362 >>>  
Title 44, Chapter 14, Section 361.2 (44-14-361.2)

(a) The special lien specified in subsection (a) of Code Section 44-14-361 shall be dissolved if the owner, purchaser from owner, or lender providing construction or purchase money or any other loan secured by real estate shows that:

(1) The lien has been waived in writing by lien claimant; or

(2)(A) They or any of them have obtained the sworn written statement of the contractor or person other than the owner at whose instance the labor, services, or materials were furnished, or the owner when conveying title in a bona fide sale or loan transaction, that the agreed price or reasonable value of the labor, services, or materials has been paid or waived in writing by the lien claimant; and

(B) When the sworn written statement was obtained or given as a part of a transaction:

(i) Involving a conveyance of title in a bona fide sale;

(ii) Involving a loan in which the real estate is to secure repayment of the loan; or

(iii) Where final disbursement of the contract price is made by the owner to the contractor

there was not of record, at the time of the settlement of the transaction a valid preliminary notice or claim of lien which had not been previously canceled, dissolved, or expired.

(b) As used in paragraph (2) of subsection (a) of this Code section, the term:

(1) "Person other than the owner" shall not include a subcontractor.

(2) "Final disbursement" of the contract price means payment of the agreed price between the owner and contractor for the improvements made upon the real estate or the reasonable value of the labor, services, and materials incorporated in the improvements upon the real estate and shall include payment of the balance of the contract price to an escrow agent.

Saturday May 23 16:25 EDT


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