Commercial Bank v. Readd

In this case we follow Georgia case law which makes the home buyer (or buyer of other real property) responsible for some debts of the former owner which are incurred by the former owner after the sale of the property. Vidalia Production Credit Assn. v. Durrence, 94 Ga. App. 368 (94 SE2d 609) (1956); Reisman v. Jacobs, 107 Ga. App. 200 (129 SE2d 338) (1962). See also Coursin v. Atkinson & Griffin, Inc., 230 Ga. 643 (198 SE2d 675) (1973).1 This problem is critical in this state because we have no means for closing "open end” or "dragnet” clauses in security deeds upon the transfer of the real…