In the event of a sale of the property, the deferred taxes shall not be submitted to penalty as provided for delinquent taxes, but shall be subject to interest at the rate of ten percent (10%) per annum, and the accrued taxes and interest at ten percent (10%) per annum shall remain a first lien on the property in favor of the local government involved until paid and without being subject to the statutes of limitations.
Structure 2021 Tennessee Code
Title 7 - Consolidated Governments and Local Governmental Functions and Entities
Chapter 64 - Real Property Tax Deferral
§ 7-64-203. Determining Income Limitation. [For Contingent Amendment, See the Compiler's notes.]
§ 7-64-204. Other Laws Superseded
§ 7-64-205. Claim by Surviving Spouse
§ 7-64-209. Interest — Lien for Unpaid Taxes. [For Contingent Amendment, See the Compiler's notes.]
§ 7-64-210. Termination of Deferral. [For Contingent Amendment, See the Compiler's notes.]