2010 Tennessee Code
Title 67 - Taxes And Licenses
Chapter 5 - Property Taxes
Part 25 - Tax LienSale of Property
67-5-2513 - Property purchased by state or political subdivision Disposition of receipts.

67-5-2513. Property purchased by state or political subdivision Disposition of receipts.

Whenever any property is purchased at a tax sale by the state, a county, or a municipality, or by any two (2) or more of them, the net receipts collected from the sale or rental of the property shall be used to pay the following obligations in the order named:

     (1)  State taxes or such amount thereof as the commissioner of revenue, with the consent of the governor and attorney general and reporter, is willing to accept in full settlement thereof, those state officials being authorized to compromise such taxes in a manner similar to that provided for in § 67-5-2505(e);

     (2)  County and municipal taxes, beginning with the taxes that have become delinquent most recently, that are secured by an existing lien against the property and proceeding successively to the oldest taxes against the property, pay the court costs and attorney fees in all of the cases, and if the money available is sufficient to pay part, but not all of the county and municipal taxes for each of such years, the money shall be divided between the county and municipality in proportion to the amount of their delinquent taxes for these years; and

     (3)  Any special assessment, improvement district, or other similar liens according to their legal priority.

[Acts 1943, ch. 18, § 3; C. Supp. 1950, § 1592.5; impl. am. Acts 1959, ch. 9, § 14; T.C.A. (orig. ed.), § 67-2042.]