Law Commons^™

Property Mortgages, Conveyances To Secure Debts, And Liens: Provide For Shortened Reversionary Period For Secured Property; Provide For Notice To Prospective Purchaser Of Potential Nuisances By Grantor, Owner Or Agent Of Property On Or Near Agricultural Or Forestry Property, Susan M. Gordon

Georgia State University Law Review

The Act reduces the reversionary period for secured property from twenty to seven years. The expiration period remains at twenty years when the parties have expressly indicated in the conveyance an intent to create a perpetual or indefinite security interest, unless the term of the debt exceeds twenty years. In addition, the Act requires notice of acceptable land uses and potential nuisances to purchasers of property zoned or adjacent to agricultural or forestry land.