Tennessee Code 29-17-904 – Acceptance by property owner of amount deposited
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Terms Used In Tennessee Code 29-17-904
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Property: includes both personal and real property. See Tennessee Code 1-3-105
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
If the owner is satisfied with the amount deposited by the condemner with the clerk of the court, the owner may file with the clerk a statement, duly sworn to, stating that the filer is the owner of the property or property rights described in the petition and that the owner accepts the amount deposited with the clerk as full settlement for the taking of such property or property rights and all damages occasioned to the residue of the property, and the clerk shall pay to the owner the amount deposited with the clerk, and the court, at its next term, shall enter a decree divesting the title to the property or property rights out of the owner and vesting the same in the condemner.