§ 10-523. Foreclosed and vacant real property exemptions.

(a)

Registration or payment of any administrative fees of foreclosed real property pursuant to this article and state law is not required of transferees as described in subsection (b) of this section.

(b)

Any transferee who acquires any real property by foreclosure under power of sale pursuant to O.C.G.A. § 44-14-160 or acquires any real property pursuant to a deed in lieu of foreclosure and:

(1)

The deed under power of sale or deed in lieu of foreclosure contains the information specified in subsection (a) of this section;

(2)

The deed is filed with the clerk of the superior court within 60 days of the transfer; and

(3)

Proof of the following is provided to the office or the officer in charge of the city foreclosed real property registry:

a.

A filing date stamp or receipt showing payment of the applicable filing fees; and

b.

The entire deed under power of sale or entire deed in lieu of foreclosure.

(c)

Any owner or agent required to register any vacant or foreclosed real property pursuant to this article or to state law shall also be required to update the information specified in subsection (a) of this section within 30 days after any change in such required information regardless of whether the information provided to the registry was in the deed under power of sale or deed in lieu of foreclosure.