Obligation of Brokers to Court; Reporting Requirements

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  2. Georgia Code
  3. Property
  4. Estates
  5. Tenancy in Common
  6. Partition
  7. Uniform Partition of Heirs Property
  8. Obligation of Brokers to Court; Reporting Requirements

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  1. A broker appointed under subsection (b) of Code Section 44-6-187 to offer heirs property for open-market sale shall file a report with the court not later than seven days after receiving an offer to purchase the property for at least the value determined under Code Section 44-6-184 or 44-6-187.
  2. The report required by subsection (a) of this Code section shall contain the following information:
    1. A description of the property to be sold to each buyer;
    2. The name of each buyer;
    3. The proposed purchase price;
    4. The terms and conditions of the proposed sale, including the terms of any owner financing;
    5. The amounts to be paid to lienholders;
    6. A statement of contractual or other arrangements or conditions of the broker's commission; and
    7. Other material facts relevant to the sale.

(Code 1981, §44-6-188, enacted by Ga. L. 2012, p. 97, § 2/HB 744.)


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