New Recording Requirements for Georgia Security Deeds

Georgia House Bill 974 (updating OCGA §44-14-63) passed and will go into effect July 1, 2023.  Lenders may need to adjust their closing documents to make sure all the required information is listed on the first page of the security deed. (Security deeds are commonly referred to as mortgages). Sometimes the loan amount and the maturity date are in the body of the security deed, and difficult to find. This amended statute requires the following information to be listed on the first page of the document to be recorded:

1. The date of the document
2. The names of the signatories of the document
3. The grantee’s mailing address
4. Map and parcel ID, if applicable
5. The original loan amount or the amount of any outstanding principal and additional advance pursuant to a loan modification
6. The initial maturity date or dates for such debt
7.  The amount, if any, of the intangible recording tax imposed on such deed to secure debt
8. The amount, if any, of the intangible recording tax imposed for an additional advance pursuant to a security deed modification agreement of other additional advance secured by a security deed and
9. If no intangible tax is imposed, a citation to the authority providing for an exemption of such tax.

Clerks will reject the Security Deed if it does not include this information. 

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John C. Bennett is a real estate closing attorney and owner of Origin Title and Escrow, Inc.. Since 2003, Origin Title has handled real estate transactions – purchases, refinances, reverse mortgages – quickly and professionally. There will be no surprises, nothing misunderstood. Title searches are thorough and well-reasoned, to avoid unpleasant surprises later down the road. Calculate your closing costs in Georgia or Florida using our calculator or contact Origin Title using this form.