Tennessee Code 7-84-417 – Redemption from municipality after foreclosure of lien
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Terms Used In Tennessee Code 7-84-417
- Governing body: means the council or commission or other municipal body exercising general legislative power in the municipality or any county legislative body. See Tennessee Code 7-84-103
- Municipality: means any incorporated city, town, metropolitan government, or county of this state exercising general governmental functions in the state. See Tennessee Code 7-84-103
- 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.
In case any assessment is or becomes delinquent and the property subject to the delinquency has been or is to be sold to the municipality for the delinquency, redemption of such property shall be permitted upon payment, not later than six (6) months after the date of sale, of the full amount due plus interest, any taxes paid by the municipality, and accrued costs and redemption fees as may be prescribed by ordinance of the municipality, unless, in the judgment of the governing body of the municipality, the interest of the municipality shall be subserved by accepting a less sum in settlement for the delinquency.