Georgia Attorneys Title Guaranty Fund

Underwriting Bulletin No. 107

December 14, 2006

SUBJECT: House Bill 1282 – Notice of Settlement

House Bill 1282 becomes effective on January 1, 2007. This new law generally permits a party to a pending real estate transaction to file a “Notice of Settlement” with the clerk of superior court in the county where the real estate is located. Once the Notice is filed any person claiming any title to, an interest in, or lien upon the real estate shall be deemed to have acquired such title, interest or lien with knowledge of the anticipated settlement and shall be subject to any deed or mortgage between the parties identified in the Notice. The Notice is good for a period of 30 days and can be renewed for an additional 30 days.

The Notices are to be filed by the clerks in the regular indices, so there will be no additional index to search for their presence. We are not requiring our agents to file any such Notice, but remind you to record timely, in accordance with Bulletin #54 Supplement. At the present time, you may rely on the statute, in that if more than 30 days have elapsed since a Notice filing and it has not been renewed, or other settlement documents recorded, you may ignore the Notice filing.

If you have any questions please contact the State Underwriting Department at 404-250-1604 or 800-328-2642

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