Georgia recently passed House Bill 974 to mandate new requirements for electronic filings and for information that must be provided on the first page of a security deed.
The bill amends Georgia Code, Chapter 2 of Title 44, by adding provisions to Code Section 44-2-2 for electronic filings. New Code Section 44-2-2(c) provides that as of the July 1, 2023 effective date, Georgia Superior Court Clerks shall offer electronic filing for the recording of all instruments listed in Code Section 44-2-2(1)(a), which includes deeds, mortgages, other lien types provided for by law, maps or plats for real property, and state tax executions and renewals. Additionally, new Code Section 44-2-2(d) requires Georgia Superior Court Clerks to “make available a public computer terminal which provides a filer with access to the Georgia Superior Court Clerk’s Cooperative Authority’s electronic filing portal.” The bill also adds new Code Section 44-2-2(e) to clarify that a missing or incorrect tax parcel identification number will not make a recorded instrument void or voidable, affect the validity, enforceability, or priority of an instrument, or affect the notice provided by recording the instrument.
The bill also makes a notable change to Georgia Code Section 44-14-63(b) in Chapter 14 of Title 4, by requiring additional items be included on the first page of security deeds. As of the effective date, a deed to secure debt will no longer be recorded unless the first page includes the following information:
- The date of the document;
- The names of the signatories of the document;
- The grantee’s mailing address;
- Map and parcel identification information, if applicable;
- The original loan amount or the amount of any outstanding principal and additional advance pursuant to a loan modification;
- The initial maturity date or dates for such debts;
- The amounts, if any, of the intangible recording tax imposed on such deed to secure debt;
- The amounts, if any, of the intangible recording tax imposed for an additional advance pursuant to a security deed modification agreement or other additional advance secured by a security deed; and
- If no intangible tax is imposed, a citation to the authority providing for an exemption of such tax.
DocMagic is reviewing Georgia security instruments for applicable changes and will announce more information regarding implementation prior to the July 1, 2023 effective date. If you have any questions, please contact DocMagic's Compliance Department.
