2010 Tennessee Code
Title 67 - Taxes And Licenses
Chapter 5 - Property Taxes
Part 25 - Tax LienSale of Property
67-5-2512 - Division of land purchased jointly by state and political subdivision.

67-5-2512. Division of land purchased jointly by state and political subdivision.

(a)  Whenever any land lying in the state of Tennessee, that is divisible, shall be sold to the state, the state treasurer, or any other officer or agency of the state, for nonpayment of delinquent taxes due the state, or any county, city, municipal corporation, quasi-municipal corporation, political subdivision or taxing district thereof, after the time for redemption fixed by law shall have expired, the county, city, municipal corporation, quasi-municipal corporation, political subdivision or taxing district may elect to have such land divided.

(b)  In that event they shall so notify the governor, who shall be required to appoint a committee consisting of the commissioner of revenue, the county assessor and the city assessor of the county and city or other political subdivision wherein the land is located, who shall make an appraisal to determine the value of the land.

(c)  After such appraisal, the land shall be divided between the state and any county, city, municipal corporation, quasi-municipal corporation, political subdivision or taxing district having an interest therein, in a ratio equal to the amounts due the state and such county, city, municipal corporation, quasi-municipal corporation, political subdivision or taxing district hereof for delinquent taxes on such land.

(d)  The governor and state treasurer shall then be required to issue a warranty deed to such county, city, municipal corporation, quasi-municipal corporation, political subdivision or taxing district thereof, for the land each shall be entitled to under the division.

[Acts 1935, ch. 56, § 1; C. Supp. 1950, § 1612.1; impl. am. Acts 1959, ch. 9, § 14; T.C.A. (orig. ed.), § 67-2041.]