Georgia § 44-6-188 Obligation of brokers to court; reporting requirements

Georgia Statutes

§ 44-6-188 — Obligation of brokers to court; reporting requirements

(a)A broker appointed under subsection (b) of Code Section 44-6-187 to offer heirs property for open-market sale shall file a report with the court not later than seven days after receiving an offer to purchase the property for at least the value determined under Code Section 44-6-184 or 44-6-187 .

(b)The report required by subsection (a) of this Code section shall contain the following information:

(1)A description of the property to be sold to each buyer;

(2)The name of each buyer;

(3)The proposed purchase price;

(4)The terms and conditions of the proposed sale, including the terms of any owner financing;

(5)The amounts to be paid to lienholders;

(6)A statement of contractual or other arrangements or conditions of the broker's commission; and (7) Other material facts relevant to

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(a) A broker appointed under subsection (b) of Code Section 44-6-187 to offer heirs property for open-market sale shall file a report with the court not later than seven days after receiving an offer to purchase the property for at least the value determined under Code Section 44-6-184 or 44-6-187 . (b) The report required by subsection (a) of this Code section shall contain the following information: (1) A description of the property to be sold to each buyer; (2) The name of each buyer; (3) The proposed purchase price; (4) The terms and conditions of the proposed sale, including the terms of any owner financing; (5) The amounts to be paid to lienholders; (6) A statement of contractual or other arrangements or conditions of the broker's commission; and (7) Other material facts relevant to the sale.

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