Plain English Breakdown
The provided source is a high-level legislative summary and digest; specific dollar amounts, exact deadlines, or detailed procedural steps are not available in this text.
HB1222: Rules for Specialized Land Transactions and Account Statements
This bill changes Georgia law to require the issuance of statements of accounts in specialized land transactions.
What This Bill Does
- Amends Chapter 3 of Title 44 of the Official Code of Georgia Annotated regarding regulation of specialized land transactions.
- Provides for the issuance of statements of accounts for these specific property deals.
- Sets rules for what information must be in the account statement and how to request it.
- Defines legal consequences if a seller fails to provide the required statement.
- Amends Code Section 44-14-15 regarding fees for future conveyances to include a cross-reference.
Who It Names or Affects
- Parties involved in specialized land transactions under Georgia law.
Limits and Unknowns
- The effective date has not been set yet.
- Specific details on fees, deadlines, or exact procedures are not listed in the provided summary text.