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GA SB420

GA SB420
Agriculture; acquisition of possessory interest in certain land by certain foreign persons and entities; prohibit


summary

Introduced
01/29/2024
In Committee
03/20/2024
Crossed Over
02/29/2024
Passed
04/02/2024
Dead
Signed/Enacted/Adopted
04/30/2024

Introduced Session

2023-2024 Regular Session

Bill Summary

AN ACT To amend Code Section 1-2-11 of the Official Code of Georgia Annotated, relating to rights of aliens generally, purchase, holding, and conveyance of realty, so as to provide for a limitation regarding property rights for certain foreign persons and entities; to amend Chapter 1 of Title 2 of the Official Code of Georgia Annotated, relating to general provisions relative to agriculture, so as to prohibit the acquisition of possessory interest in certain land by certain foreign persons and entities; to provide for definitions; to provide for exceptions; to provide for civil actions; to provide for rules and regulations; to provide for disclosures; to provide for penalties; to provide for statutory construction; to amend Title 44 of the Official Code of Georgia Annotated, relating to property, so as to provide for transfer-on-death deeds; to provide for definitions; to provide for execution and recording of such deeds; to provide for a deed form; to provide for revocation or changing of grantee beneficiaries; to provide that such deeds shall not be revoked by wills; to provide for taking of interests free and clear of claims; to provide for lapsing of transfers; to provide for record owners to retain title; to provide for joint ownership; to provide for related matters; to provide for an effective date; to repeal conflicting laws; and for other purposes.

AI Summary

This bill prohibits nonresident aliens, defined as certain foreign individuals and entities, from acquiring possessory interests in agricultural land or land within 10 miles of a military base, military installation, or military airport, with some exceptions. The bill also introduces a new type of deed called a "transfer-on-death deed" that allows a property owner to designate a beneficiary to receive the property upon the owner's death. The bill provides details on the execution, recording, and revocation of these deeds, as well as the rights and responsibilities of the designated beneficiaries.

Committee Categories

Business and Industry, Justice

Sponsors (35)

Last Action

Act 496 (on 04/30/2024)

bill text


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