Legal Question in Real Estate Law in Georgia

ownership of common area

The developer is being foreclosed

on and the bank says the common

area is part of the collateral on the

loan. If they foreclose do they own

the common area or is it protected

since it is legally setup as common

area and ownership should be

controlled by the POA


Asked on 10/16/08, 10:59 am

1 Answer from Attorneys
Charles W. Field Charles W. Field, Attorney at Law

Re: ownership of common area

I do a good bit of HOA/POA law. The answer to your question is going to be in the title to the common area. Consult with a local attorney.

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Answered on 10/16/08, 1:06 pm


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