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Shantha v. West Georgia National Bank
Citations: 244 S.E.2d 643; 145 Ga. App. 712; 1978 Ga. App. LEXIS 2099Docket: 55576
Court: Court of Appeals of Georgia; April 20, 1978; Georgia; State Appellate Court
The Court of Appeals of Georgia addressed the confirmation of a foreclosure sale under the power of sale, which is a prerequisite for seeking a deficiency judgment. The court emphasized the need to ascertain that the property sold for at least its true market value and to evaluate the legality of the notice, advertisement, and regularity of the sale. While irregularities in the sale process can warrant setting aside the sale, not every deficiency will do so; the primary concern is whether the sale price reflects market value. Testimony from two witnesses indicated that the property's value matched or was less than the sale price, thereby rendering arguments about the bid being too low meritless. The appellant raised issues regarding inaccuracies in the descriptions within the warranty deed and loan deed, notably a typographical error in the intersection description. However, these errors were rectified in the foreclosure deed and advertisement, which adequately described the property. The court ruled that inaccuracies do not necessarily invalidate a deed if they do not contribute to a chilling effect on the sale price. It was determined that the descriptions provided were sufficient, and any misdescriptions were minor typographical errors. The trial court's judgment confirming the sale was affirmed, as the advertisement met the necessary legal requirements without ambiguity that would affect the sale's fairness. Judges Smith and Banke concurred with the decision.