When the sale is made by decree of the chancery court, it shall be made for cash, and the owners of land sold shall have two (2) years from the date of the confirmation of the sale in which to redeem the land, by paying to the clerk and master of the court making the sale, the amount paid by the purchaser for the land, with legal interest on the amount to the date of redemption, and also a further sum equal to ten percent (10%) of the amount paid by the purchaser for the land.
Structure 2021 Tennessee Code
Title 54 - Highways, Bridges and Ferries
Chapter 12 - Road Improvement Districts
Part 4 - Collection of Assessments
§ 54-12-405. Bonds to Be Paid Only by Assessments Levied on the Lands Within the District
§ 54-12-411. Assessments Become Liens Upon Land
§ 54-12-412. Bill in Chancery to Sell Land for Collection of Delinquent Assessments
§ 54-12-416. Public Taxes to Be Paid Before the Delinquent Assessments
§ 54-12-418. Sale for Cash Subject to Redemption Within Two Years — Manner of Redemption
§ 54-12-419. Attorney's Fee Charged as Part of Judgment
§ 54-12-423. Assessments Collectible Only Out of the Assessed Land
§ 54-12-424. Compensation of Trustee for Collecting and Paying Out, and for Certified Copies