Statutes > Georgia Statutes > TITLE 44 - PROPERTY > CHAPTER 14 - MORTGAGES, CONVEYANCES TO SECURE DEBT, AND LIENS > ARTICLE 7 - FORECLOSURE > PART 4 - FORECLOSURES ON PERSONALTY > SUBPART 1 - IN GENERAL > § 44-14-238 - Foreclosure when debts due in installments; treatment of surplus

§ 44-14-238 - Foreclosure when debts due in installments; treatment of surplus

O.C.G.A. 44-14-238 (2010)
44-14-238. Foreclosure when debts due in installments; treatment of surplus


If a mortgage on personalty is given to secure several debts falling due at different times, the mortgagee may foreclose when the first debt becomes due; and the court will control the surplus so as to protect the lien created for the debts not due.