Non profit entity is renewing note. Entity has amended name since original note & security deed. Security (real property) titled

in original name. Question: Should a new warranty deed be recorded in new name so that new note will be compatible with the secured property?

Moultrie, GA -

Attorney Answers (3)

Kevin M. Veler

Kevin M. Veler

Construction / Development Lawyer - Alpharetta, GA
Answered

There is no need to record a new deed unless it is important to you to do so. In general the simplest way to handle is to have the note indicate something to the effect: X corp formerly known as Y corp, by virtue of a name change filed with the Georgia Secretary of State on MM/DD/YY.

Disclosure: This answer and any information contained in this answer is not intended to be treated as legal... more
Kenneth McShan Turnipseed

Kenneth McShan Turnipseed

Real Estate Attorney - Moultrie, GA
Answered

The prior response is correct. The new note and Security Deed (if a new one is being done) should have both the old and new name to ensure the lender has proper security in the property.

However, the cost of a new deed to put record ownership in the new name is pretty low and fairly easy to do.

Charles I. Pollack

Charles I. Pollack

Real Estate Attorney - Atlanta, GA
Answered

There is a specific provision of the Georgia Nonprofit Corporations Code which answers your question. I don't know the cite offhand, but what I've done is to file a "Notice of Corporate Name" change in the real estate records and attach as an exhibit a Certified Copy of the Certificate of Name Change issued by the GA Secretary of State. For good measure, have the Ceritificate cross-referneced on the real estate records to the original deed under with the entity obtained title.

[This communication is intended as general information and not specific legal advice, and this communication does... more

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