Understanding Mortgage Foreclosure Surplus in Georgia

General background

Georgia is generally known as a non-judicial foreclosure state, meaning many foreclosures can proceed under a power of sale in the security deed without a court proceeding. When a foreclosure sale generates more proceeds than needed to satisfy the debt and costs of sale, the remainder may be considered surplus funds.

Who is generally involved

The foreclosing party, or an attorney acting on its behalf, is typically involved in the sale and disbursement of funds, and other parties with a recorded interest in the property may also be part of that process.

A note on legal review

This article provides general, non-jurisdiction-specific background and is not a substitute for legal advice. Because Georgia foreclosure and surplus-funds procedures involve specific statutory and case-law requirements, this content is flagged for attorney review prior to publication to confirm accuracy.