Rule 560-11-11-.09. Release of Covenant

1. (1) When a tract of real property is no longer eligible as a QFLP due to a non-remedied breach, or at the expiration of the QFLP Covenant, the owner of such tract of real property shall file an application for release with the Local Board of Tax Assessors for release of the tract of real property from the QFLP Covenant:

   1. (a) Within sixty (60) days of the last day the tract was eligible as QFLP; or
   2. (b) Within sixty (60) days of the last day of the QFLP Covenant.

2. (2) The Local Board of Tax Assessors must within thirty (30) days from receipt of an application for release, determine if all taxes and penalties, if applicable, have been paid and satisfied on the tract of real property.

   1. (a) Upon approval of the application for release of the tract real property from the QFLP Covenant, the Local Board of Tax Assessors shall have fifteen (15) days to

      1. 1. Provide written notification to the applicant that the release has been approved.
      2. 2. File the release with the office of the clerk of superior court in the county where the original QFLP Covenant was filed, and provide a copy to the applicant.
   2. (b) If an application for release is denied, the Local Board of Tax Assessors shall send written notification to the applicant within fifteen (15) days of receipt of such application and it shall include the reason(s) for denial. Appeals resulting from denial of release shall be made in the manner provided for in O.C.G.A. § 48-5-311.

Authority: O.C.G.A. §§ 48-2-12, 48-5-7.7, 48-5-311.

History. Original Rule entitled "Release of Covenant" adopted as ER. 560-11-11-0.40-.09. F. and eff. May 22, 2009, the date of adoption.

Amended: Permanent Rule of same title adopted. F. June 26, 2009; eff. July 16, 2009.

Amended: F. Dec. 16, 2024; eff. Jan. 5, 2025.