The Stern & Eisenberg Blog looks at what's under the surface of emerging legal trends in regulations, compliance, case law, technology, and other areas worth a deep-dive with our expert attorneys.
|
The Stern & Eisenberg Blog looks at what's under the surface of emerging legal trends in regulations, compliance, case law, technology, and other areas worth a deep-dive with our expert attorneys.
|
Repossessing Automobile Collateral in Georgia
Repossession of personal property, which has been used as collateral for a loan, is governed by Section 6 of the Georgia Commercial Code Annotated. The Georgia repossession process is fairly straight forward with only a few notices required to be sent to the borrower. However, each notice must contain very specific language and be sent in accordance with the specific time frames as laid out in the Georgia Code. The following paragraphs provide a brief overview of the Georgia Code’s requirements. The first notice to the borrower is not an official part of the repossession process, but is laid out and made a part of the initial financing agreement or contract. This notice is the disclosure to the borrower of the remedies in the case of default. It is important to review the contract carefully to ensure it does not provide the borrower with additional rights or notice requirements above and beyond what is required by Georgia law.
0 Comments
|
AuthorsS&E Attorneys & Archives
October 2018
Categories
All
|
Vertical Divider
Stern & Eisenberg is a leading regional firm serving twelve states and the District of Columbia. For over forty years, Stern & Eisenberg has built a collaborative, diverse, high-performing team environment which promotes data-driven decision-making, creates innovative opportunities, and allows for performance, operational, and technological seamlessness across its multi-state footprint. Click here to contact the S&E Value Department.
|