Georgia § 51-12-51 Recovery by person holding security interest in land for conversion of timber; use of converted timber by owner

Georgia Statutes

§ 51-12-51 — Recovery by person holding security interest in land for conversion of timber; use of converted timber by owner

(a)Every person, firm, or corporation who, without the written consent of the person holding legal title to land or to an interest in land as security for debt, as shown by the public records of the county where such land is located, buys, sells, cuts, removes, holds, disposes of, changes the form of, or otherwise converts to the use of such person, firm, corporation, or another any trees growing or grown on such land shall be liable to the holder of the legal title for such trees, in any form, bought, sold, cut, removed, held, disposed of, changed in form, or otherwise converted by such person, firm, or corporation, or for the value of such trees, provided that recovery may not be for more than the unpaid portion of the secured indebtedness, interest thereon, and a reasonable attorney's

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(a) Every person, firm, or corporation who, without the written consent of the person holding legal title to land or to an interest in land as security for debt, as shown by the public records of the county where such land is located, buys, sells, cuts, removes, holds, disposes of, changes the form of, or otherwise converts to the use of such person, firm, corporation, or another any trees growing or grown on such land shall be liable to the holder of the legal title for such trees, in any form, bought, sold, cut, removed, held, disposed of, changed in form, or otherwise converted by such person, firm, or corporation, or for the value of such trees, provided that recovery may not be for more than the unpaid portion of the secured indebtedness, interest thereon, and a reasonable attorney's fee. Recovery may be had by action at law from one who purchases, without the consent of the holder of the legal title, such interest in the trees, mineral or other rights, or interest in the encumbered real estate, either jointly or severally, with the holder of the equitable title. Notwithstanding any other provision of law, any such person, firm, or corporation who is a buyer in the ordinary course of business pursuant to Title 11, the "Uniform Commercial Code," including, but not limited to, Code Section 11-9-320 , shall have no liability under this Code section. (b) The equitable owner of the land shall be allowed to use the timber for such equitable owner's own use, such as for firewood or other necessary uses of timber in and around such equitable owner's farm.

Georgia § 51-12-51 (Recovery by person holding security interest in land for conversion of timber; use of converted timber by owner) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.